Power company Exelon Corp (EXC.N) struck a deal to buy rival Constellation Energy Group (CEG.N) for $7.9 billion in a bid to become the largest generator of competitively priced electricity in the United States. It would be the latest in a string of deals in the fragmented U.S. utility industry, which faces new costs to upgrade power grids and meet environmental controls. It is Exelon Chief Executive John Rowe's latest -- and likely last -- attempt to transform his company through acquisitions. Exelon was thwarted in efforts to buy independent power producer NRG Energy Inc (NRG.N) in 2009, Public Service Enterprise Group (PEG.N) in 2006, and Illinois Power in 2003. The combined company will keep the Exelon name and its headquarters in Chicago. Rowe plans to retire after the deal closes, and Exelon Chief Operating Officer Christopher Crane will become the new company's CEO. Constellation CEO Mayo Shattuck will become executive chairman.
Exelon Corporation (Exelon) is a utility services holding company. Shares of EXC fell by 0.71% or $-0.2935/share to $41.1965. 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 6305100.
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 3.53% or $1.21/share to $35.51. 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 8410363.
NRG Energy, Inc. (NRG) is a wholesale power generation company. Shares of NRG fell by 0.71% or $-0.17/share to $23.73. In the past year, the shares have traded as low as $18.22 and as high as $25.19. On average, 2858770 shares of NRG exchange hands on a given day and today's volume is recorded at 540940.
Public Service Enterprise Group Incorporated (PSEG) is a holding company that operates through three principal direct wholly owned subsidiaries: PSEG Power LLC (Power), Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings LLC (Energy Holdings). Shares of PEG traded higher by 0.22% or $0.07/share to $31.87. In the past year, the shares have traded as low as $29.02 and as high as $34.93. On average, 2805430 shares of PEG exchange hands on a given day and today's volume is recorded at 711038.
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