Home / M&A Activity / Exelon-Pepco Merger Gets Green Light From Virginia State Corporation Commission

Exelon-Pepco Merger Gets Green Light From Virginia State Corporation Commission

PowerPlantExelon Corp. and Pepco Holdings have received approval from the Virginia State Corporation Commission to move forward on the the companies’ proposed $7 billion merger agreement they announced in April.

Pepco Holdings owns transmission infrastructure in Virginia and previously offered power to distribution customers in Virginia through the Delmarva Power and Pepco utilities, Exelon and Pepco said Tuesday.

The energy providers said they are waiting for decisions from the Federal Energy Regulatory Commission, Delaware Public Service Commission, Public Service Commission of the District of Columbia, New Jersey Board of Public Utilities and Maryland Public Service Commission.

Pepco Holdings shareholders approved the transaction Sept. 23 and both companies expect to wrap up the deal in either the second or third quarter of 2015.

Check Also

Leidos Wins Navy Synthetic Signature Generation Trainer Contract

Leidos (NYSE: LDOS) has won a potential three-year, $63M contract to develop, engineer and integrate a training system based on synthetic signature generation technology for the U.S. Navy. The company will also help the service brancg test, implement and maintain the SSG trainer as part of the cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract, the Department of Defense said Tuesday.

Bechtel Wins $383M Contract to Design, Build NASA’s Second Mobile Launcher

Bechtel has been awarded a 44-month, $383M contract to design, construct, test and commission a second mobile launcher at NASA's Kennedy Space Center. NASA said Wednesday it will use the ML2 to assemble, process and launch the Space Launch System rocket with the Orion spacecraft on missions moon and Mars. The platform will be built to support KSC's exploration ground systems.