U.S. power company Exelon Corp (EXC.N) is near a deal to buy rival Constellation Energy Group Inc (CEG.N), sources familiar with the matter said on Wednesday. The companies were in late-stage talks on a stock-for-stock transaction, the two sources said, but the price of Exelon's bid for Constellation was not immediately clear. The sources spoke on condition of anonymity. Constellation shares closed at $34.30 on Wednesday, giving the company a market value of just under $6.9 billion. The company's shares rose 8.6 percent after hours on the buyout talks.
Exelon Corporation (Exelon) is a utility services holding company. Shares of EXC traded higher by 0.78% or $0.32/share to $41.49. In the past year, the shares have traded as low as $16.78 and as high as $44.49. On average, 5240810 shares of EXC exchange hands on a given day and today's volume is recorded at 5516060.
Constellation Energy Group, Inc. (Constellation Energy) is an energy company that conducts its business through various subsidiaries, including a merchant energy business and Baltimore Gas and Electric Company (BGE). Shares of CEG traded higher by 4.16% or $1.37/share to $34.3. In the past year, the shares have traded as low as $27.64 and as high as $37.79. On average, 2208600 shares of CEG exchange hands on a given day and today's volume is recorded at 3855381.
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