Nuclear power company Exelon Corp agreed to purchase utility company Pepco Holdings Inc for more than $5.4 billion in cash, Bloomberg reported, citing people familiar with the transaction. Pepco, with a market capitalization of about $5.71 billion, operates utilities in Delaware, Maryland and New Jersey and serves about 2 million customers.The deal is expected to be announced as early as Wednesday morning, according to the report. (r.reuters.com/wav88v)Exelon and Pepco were not immediately reachable for comment outside regular U.S. business hours.Chicago-based Exelon struck a deal three years ago to buy rival Constellation Energy Group for $7.9 billion, in a bid to become the largest generator of competitively priced electricity in the United States. (r.reuters.com/bev88v)
Pepco Holdings, Inc. (PHI) is a holding company, that, through regulated public utility subsidiaries, is engaged primarily in the transmission, distribution and default supply of electricity and the distribution and supply of natural gas (Power Delivery): Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE). Shares of POM fell by 1.34% or $-0.31/share to $22.79. In the past year, the shares have traded as low as $18.04 and as high as $23.25. On average, 2466240 shares of POM exchange hands on a given day and today's volume is recorded at 4172450.
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