Exelon To Acquire Pepco Holdings For $27.25 Per Share In Cash - Quick Facts

(RTTNews) - Exelon Corp.on (EXC) and Pepco Holdings Inc. (POM) announced that they have signed a definitive agreement to combine the two companies in an all-cash transaction. The all-cash transaction consideration of $27.25 per share represents a 24.7 percent premium to Pepco Holdings' closing price of $21.85 on April 25, 2014.

The agreement has been unanimously approved by both companies' boards of directors.

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

The combined utility businesses will serve approximately 10 million customers and have a rate base of approximately $26 billion.

The acquisition is anticipated to be significantly accretive to Exelon's adjusted earnings in the first full year after closing.

Exelon President and CEO Chris Crane will remain president and CEO of the combined company. The Chairman, President and CEO of Pepco Holdings, Joseph Rigby, who previously announced his planned retirement, will remain in his current roles with Pepco Holdings until the closing of the transaction.

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