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District of Columbia rejects Exelon-Pepco merger

POST Online Media ▼ | August 25, 2015
The Public Service Commission of the District of Columbia denied Exelon's $6.8 billion bid for Pepco Holdings.
Pepco Holdings
Merger   District of Columbia can stop Exelon and Pepco
The commission was the final regulatory hurdle for the deal, which was announced in April 2014 and would have created the top U.S. power distributor.

Exelon Corporation and Pepco Holdings filed an application for approval by the Federal Energy Regulatory Commission (FERC) of the proposed transaction announced by the companies on April 30, 2014.

In September 2014, Pepco Holdings announced that PHI stockholders at a special meeting voted to approve the merger agreement with Exelon Corporation.

The New Jersey Board of Public Utilities (BPU) Commissioners approved the merger in February this year.

Exelon and Pepco Holdings enhanced their proposed package of merger benefits in Maryland in March.