Today we announced that the boards of directors of Exelon (NYSE: EXC) and Constellation Energy (NYSE: CEG) have agreed to combine the two companies in a stock-for-stock transaction. The merger creates the number one competitive energy provider with one of the industry’s cleanest and lowest-cost power generation fleets and one of the largest commercial, industrial and residential customer bases in the United States.
Highlights of the merger include:
- Creates the number one competitive energy provider
- Combined enterprise value of $52 billion
- Combines nation’s leading clean generation fleet and leading power sales and marketing business
- More than $250 million package of benefits for Maryland
The transaction must be approved by the stockholders of both Exelon and Constellation. Completion of the merger is also conditioned upon approval by the Federal Energy Regulatory Commission (FERC), Nuclear Regulatory Commission (NRC), Maryland Public Service Commission, the New York Public Service Commission, the Public Utility Commission of Texas, and other state and federal regulatory bodies.
For more information, please visit our dedicated merger site here.
