merger
Iberdrola USA and UIL Holdings have agreed to clean up an abandoned power plant site in New Haven if Connecticut regulators approve their proposed $3 billion merger.
As the Sept. 28 deadline approaches for Exelon and Pepco Holdings Inc. to appeal D.C. regulators’ rejection of their merger, Mayor Muriel Bowser is saying little to indicate how she feels about a second try by the companies to close the deal.
Iberdrola USA refiled its acquisition plan for UIL Holdings with Connecticut regulators, attempting to address objections that scuttled the previous plan.
Connecticut environmental officials are at odds with utility regulators over whether the state should seek cleanup of an abandoned power plant as a condition for Iberdrola’s acquisition of UIL Holdings.
Two key Maryland counties have agreed to support the controversial takeover of Pepco by Exelon in return for promises of bill credits, reliability improvements and other concessions.
The NJ BPU staff recommended OK of Exelon’s acquisition of Pepco in a deal that would give Atlantic City Electric customers $62 million in rate credits.
FERC yesterday approved the $6.8 billion merger of Exelon and Pepco Holdings Inc., dismissing concerns from PJM stakeholders.
Exelon and Pepco told FERC last week that competitive and environmental concerns raised over their proposed merger are unfounded.
Exelon’s proposed $6.8 billion acquisition of Pepco Holdings Inc. should clear federal regulatory hurdles easily but may face a tougher time convincing state regulators.
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