$7 Billion deal creates the nation’s top power distributor
WASHINGTON—Washington D.C. regulators on Wednesday, March 23, 2016, approved power company Exelon Corporation‘s merger with Pepco Holdings Inc., a decision that clears the last regulatory hurdle facing the $6.8 billion deal to create the country’s top power distributor.
The D.C. Public Service Commission, which regulates power, gas and telecommunication companies in the District of Columbia, voted to approve the merger, a commission spokeswoman said. The vote was 2 to 1.
Pepco’s shares rose 28 percent, or $5.92, to $27.16 while Exelon’s shares were largely unchanged.