Saturday, May 21, 2011
Constellation, Exelon File Merger Applications
As part of the deal, the companies will sell off three coal-fired electric plants in Maryland within 180 days. The stations — Brandon Shores and H.A. Wagner in Anne Arundel County, and C.P. Crane in Baltimore County, generate a total of 2,648 megawatts.
In addition to their filing with FERC, the companies said they filed applications in favor of the merger with the Nuclear Regulatory Commission, the New York State Public Service Commission and the Public Utility Commission of Texas.
The merger will be put to shareholders in the third quarter. Exelon and Constellation expect the deal to close in the first quarter of 2012. Constellation Energy Group shareholders have filed six lawsuits in Baltimore City Circuit Court since the power company announced in late April that it had agreed to sell itself to Chicago-based Exelon Corp. for $7.9 billion in an all-stock deal. (More) (The Daily Record, 5/20/2011)