Exelon, Pepco File With FERC For Approval To Combine Businesses - Quick Facts

(RTTNews) - U.S. nuclear operator Exelon Corp (EXC) and electric and natural gas utility company Pepco Holdings Inc (POM) Friday filed an application with the Federal Energy Regulatory Commission to combine their businesses.

On April 30, Exelon agreement to combine electric and natural gas utility company Pepco in an all-cash transaction consideration of $27.25 per share that comes to around $6.8 billion.

The combination of the companies brings together Exelon's three electric and gas utilities - BGE, ComEd and PECO - and Pepco's three electric and gas utilities - Atlantic City Electric, Delmarva Power and Pepco - to create the leading Mid-Atlantic electric and gas utility.

According to the companies, the deal does not raise any adverse competition issues, because Pepco owns only a minimal amount of electricity generation.

Because of the lack of competitive generation overlap, the companies have requested that FERC review the transaction and issue an order within 90 days.

The companies anticipate closing of the deal in the second or third quarter of 2015.