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Exelon to acquire Pepco

Posted by Industry News on May 1, 2014

Exelon Corporation has announced that it will acquire Pepco Holdings in a $6.8 billion all-cash transaction to form the largest utility in America in terms of the number of customers served. Exelon owns Baltimore Gas & Electric, Commonwealth Edison and PECO, while Pepco Holdings owns Atlantic City Electric, Delmarva Power and Pepco.

“As part of this transaction, Exelon has committed to provide what our customers most want: investments in infrastructure improvements, continuation of our long tradition of philanthropy in our communities and direct customer benefits of $100 million,” Joseph Rigby, CEO of Pepco Holdings, said in a statement. Read more here.