Washington D.C. Commission Approves Exelon’s Merger with Pepco

$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.

pepco-exelonThe 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.

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Sources: CNBC and Reuters    Image courtesy: WMAL
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