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Stock Market & Financial Investment News

News Breaks
February 28, 2014
16:32 EDTEXCExelon subsidiary to receive $355M in early termination agreement
On February 26, Exelon subsidiary UII and the City Public Service Board of San Antonio, Texas, or CPS, finalized an agreement to terminate a coal-fired generating station lease, and other related agreements, prior to their expiration dates. The termination agreement provides for UII to receive a net early termination amount of $335M from CPS, which UII believes is a sufficient amount such that it is in Exelon’s best interest to terminate the lease, due in part to certain economic uncertainties with respect to the end of lease term options, including the likelihood of UII incurring significant capital expenditures and increased operational risk. The termination of the lease will result in a net loss at UII, which is not material, and a tax payment of approximately $285M by Exelon and its subsidiaries in 2014, including approximately $150M by Commonwealth Edison Company.
News For EXC From The Last 14 Days
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February 27, 2015
07:26 EDTEXCPepco anticipates closing Exelon merger in Q2 or Q3
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07:26 EDTEXCPepco Holdings sees Exelon deal closing in Q2 or Q3
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February 19, 2015
11:31 EDTEXCConstellation selected by Federal Bureau of Prisons for $45M project
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February 13, 2015
17:46 EDTEXCExelon, Pepco Holdings reach settlement in proposed merger
Exelon (EXC) and Pepco Holdings (POM) announced that they have reached a settlement agreement in the proceeding before the Delaware Public Service Commission to review the two companies’ proposed merger, which was announced on April 30, 2014. The settlement, which is subject to the approval of the Commissioners of the PSC, was filed by Exelon and Pepco Holdings, Delmarva Power, and signed by PSC Staff, the Delaware Public Advocate, the Department of Natural Resources and Environmental Control, the Delaware Sustainable Energy Utility, the Mid-Atlantic Renewable Energy Coalition, and the Clean Air Council. The merger will bring together Exelon’s three electric and gas utilities – BGE, ComEd and PECO – and Pepco Holdings’ three electric and gas utilities – ACE, Delmarva Power and Pepco – to create the leading mid-Atlantic electric and gas utility. The transaction was approved by the New Jersey Board of Public Utilities in February, the Federal Energy Regulatory Commission in November, the Virginia State Corporation Commission in October and PHI stockholders in September. The companies expect to complete the merger in the second or third quarter of 2015.
08:03 EDTEXCExelon sees FY15 adjusted EPS $2.25-$2.55, consensus $2.48
08:02 EDTEXCExelon reports Q4 adjusted EPS 48c, consensus 50c
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