A PYMNTS Company

US: Maryland approves $6.8 billion Exelon-Pepco merger

By  |  May 17, 2015

The Maryland Public Service Commission approved Exelon Corporation’s $6.8 billion proposal to purchase Potomac Electric Power Company and Delmarva Power & Light today in a split 3-2 vote.

“In this Order we approve the merger of Exelon and Pepco Holdings, Inc. because, simply put, the evidence demonstrates that Delmarva and Pepco will be better utilities because of the merger, and that the statutory requirements are satisfied.”

Commissioners in favor of the deal determined it was in the public interest, citing the potential for faster outage recovery and cost savings for customers through operational efficiencies.

“We are pleased that the Maryland Public Service Commission has approved our merger,” Exelon Corporation and Pepco Holdings Inc. said in a combined statement.

 

Full content: The Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.