New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 30, 2014
08:04 EDTEXC, TEGExelon acquires Integrys Energy unit for $60M
Exelon (EXC) and Integrys Energy (TEG) announced they have entered into a definitive agreement for Exelon to purchase Integrys Energy Services. Integrys Energy Services will become part of Exelonís Constellation business unit, strengthening Constellationís retail power and gas business, serving approximately 2.5M residential and business customers across the continental U.S. Exelon will pay $60M for the Integrys retail operations, plus adjusted net working capital at the time of closing. Integrys Energy Services had adjusted working capital of about $183M as of May 31. The transaction does not include Integrysí energy assets, primarily solar, which will remain a part of Integrys Energy Group. Integrys said that it was in the late stages of a competitive process to divest its electric and natural gas retail marketing businesses as part of a June 23 news release announcing a definitive agreement between Wisconsin Energy and Integrys, where Wisconsin Energy would acquire Integrys Energy Group in a stock and cash transaction valued at $9.1B. Integrys Energy Services will operate under the Constellation brand after the transaction closes. Residential and commercial customers of Integrys will experience no disruption to service as a result of the transaction and all existing customer contracts will be honored. This includes Integrysí municipal electricity aggregation contract with the City of Chicago. The contract is currently scheduled to expire in May 2015. The transaction is conditioned on approval by the Federal Energy Regulatory Commission and is subject to the notification and reporting requirements under the Hart-Scott-Rodino Act. The companies expect to close in 4Q14 or 1Q15.
News For EXC;TEG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 12, 2016
13:00 EDTEXCMerger of Exelon, Pepco looks headed for approval, CTFN reports
Subscribe for More Information
February 9, 2016
15:48 EDTEXCExelon may consider walking away from Pepco acquisition, says dealReporter
Subscribe for More Information
February 3, 2016
08:06 EDTEXCExelon plans to raise dividend 2.5% each year for next three year
"Despite a challenging year for the sector, strong operating performance at both our utilities and our generation business enabled us to deliver strong earnings. We will provide stable growth, sustainable earnings and an attractive dividend through a combination of regulated and contracted investments and return of capital. Consistent with this strategy, we plan to grow our dividend 2.5 percent each year over the next three years," said Exelon President and CEO Christopher Crane. Exelon's board declared a first quarter dividend of 31c per share and approved a revised dividend policy. The approved policy would raise its dividend 2.5% each year for the next three years, beginning with the June 2016 dividend. The board will take formal action to declare the next dividend in the second quarter, the company said.
08:04 EDTEXCExelon sees FY16 adjusted EPS $2.40-$2.70, consensus $2.52
Operating earnings guidance is based on the assumption of normal weather, which is determined based on historical average heating and cooling degree days for a 30-year period in the respective utilities' service territories.
08:03 EDTEXCExelon reports Q4 adjusted EPS 38c, consensus 41c
Subscribe for More Information
February 2, 2016
08:42 EDTEXCExelon volatility elevated into Q4 and outlook
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use