New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 30, 2014
08:04 EDTTEG, EXCExelon 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.
September 1, 2015
08:05 EDTEXCExelon announces outcome of 2016-2017 PJM transition auction
Subscribe for More Information
August 31, 2015
08:05 EDTEXCExelon, Pepco issue statement on District of Columbia order
Exelon (EXC) and Pepco Holdings (POM) issued the following statement in response to the Public Service Commission of the District of Columbia's order on the companies' proposed merger: "We have now received the Commission's order, and we remain convinced the decision fails to recognize the substantial immediate and long-term benefits of our merger proposal to citizens, businesses and communities in the District of Columbia. We believe our merger proposal is in the public interest, and we will continue working to complete the merger, which all other jurisdictions have approved. Not completing our merger would deny customers in the District of Columbia - as well as Delaware, Maryland and New Jersey - hundreds of millions of dollars in direct financial benefits, improved reliability and storm response, renewable energy projects, and commitments that will preserve their local utility's role as a strong community partner and contributor to economic growth. We want to deliver these benefits to customers and will strive to make that happen."
07:15 EDTEXCExelon Pepco merger has less than 50% chance of completion, says Wells Fargo
Subscribe for More Information
August 28, 2015
16:29 EDTEXCStocks end volatile week higher as China whipsaws U.S. market
Subscribe for More Information
August 25, 2015
16:43 EDTEXCOn The Fly: Top stock stories for Tuesday
Subscribe for More Information
13:55 EDTEXCExelon downgraded to Neutral from Buy at Guggenheim
Subscribe for More Information
12:42 EDTEXCExelon, Pepco to review options regarding D.C. commission decision
Subscribe for More Information
12:20 EDTEXCOn The Fly: Top stock stories at midday
Subscribe for More Information
12:08 EDTEXCOptions with increasing volume: EXC POM MDLZ EWJ WBA MW F KMI
Subscribe for More Information
12:00 EDTEXCPublic Service Commission of D.C. denies Pepco/Exelon merger application
Subscribe for More Information
11:34 EDTEXCPepco plunges after D.C. commission rejects Exelon merger
The Public Service Commission of the District of Columbia voted 2 to 1 that the merger of Pepco Holdings (POM) and Exelon (EXC) is not in the public interest and that Exelon failed to prove the benefit to customer. Following the news, Pepco shares have dropped 15% to $22.96, while Exelon shares are down nearly 3% to $31.70.
11:31 EDTEXCD.C. PSC rejects Exelon, Pepco Holdings merger
Subscribe for More Information
11:28 EDTEXCPepco Holdings, Exelon drop sharply
Subscribe for More Information
August 24, 2015
08:03 EDTEXCExelon announces outcome of 2018-19 PJM capacity auction
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