Exelon Corp, the largest U.S. nuclear power producer, said it would purchase Pepco Holdings Inc for $6.83 billion to create the biggest electric and gas utility in the U.S. Mid-Atlantic region.The deal will expand Exelon's regulated holdings, giving it assets that have stable returns.Exelon's $27.25 per share cash offer represents a near 20 percent premium to Pepco Holdings' Tuesday close of $22.79 on the New York Stock Exchange.Pepco shares were trading at $26.56 before the bell on Wednesday.
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 4182620.
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