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Stock Market & Financial Investment News

News Breaks
January 31, 2013
18:04 EDTEXCExelon expects to record a 1Q13 non cash charge to earnings of $270M
Exelon announed in a regulatory filing that as previously dislosed in 1999, Commonwealth Edison Company deferred $1.2B of gain on the sale of its fossil generating facilities by acquiring like-kind property via a purchase leaseback transaction. The IRS has asserted that the Exelon Corporation purchase leaseback transaction is substantially similar to a leasing transaction known as a sale-in, lease-out transaction SILO. A SILO is a “listed transaction” that the IRS has identified as a potentially abusive tax shelter under guidance issued in 2005. Exelon continues to believe that its like-kind exchange transaction is not the same as or substantially similar to a SILO. Exelon expects to initiate litigation in 2013 to contest the IRS’s disallowance of the like-kind exchange position. As of March 31, 2013, in the event of a fully successful IRS challenge to Exelon’s like-kind exchange position, the potential tax and after-tax interest, exclusive of penalties, that could become currently payable may be as much as $860 million, of which approximately $260 million would be attributable to ComEd and the remainder to Exelon
News For EXC From The Last 14 Days
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May 19, 2015
15:36 EDTEXCPepco takeover by Exelon approved by Delaware regulators, Bloomberg reports
Delaware's PSC voted 3-0 in favor of approving he takeover, Bloomberg reported, citing an email statement from a spokesman for the regulator.
08:10 EDTEXCHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "Discussion Draft Addressing Energy Reliability and Security" with Director Bardee of FERC, President & CEO Fanning of Southern Company, Executive Vice President Dominguez of Exelon Corp., and Vice President Heitman of ABB, Inc. on May 19 at 10 am. Webcast Link
May 18, 2015
08:02 EDTEXCExelon, Pepco accept, pledge to fulfill conditions in merger order from MPSC
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May 15, 2015
14:46 EDTEXCExelon, Pepco say MPSC approval must be 'carefully' reviewed
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13:38 EDTEXCMaryland PSC conditionally approves Exelon, Pepco merger
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