Chicago-based Exelon has acquired Baltimore-based Constellation Energy Group for $7.9 billion. Christopher M. Crane, who had been the president and chief operating officer of Exelon, is the president and CEO of the combined company. Mayo A. Shattuck III, chairman and CEO of Constellation Energy, will be the executive chairman of the combined company.The deal creates one of the nation’s largest energy companies, with about 100,000 business and public sector customers and 1 million residential customers, and with operations in 47 states, the District of Columbia and Canada.
Constellation’s shares will no longer be listed on the New York Stock Exchange and the Chicago Stock Exchange, and will cease trading before the market opens Tuesday.
The new company will keep the Exelon name and remain headquartered in Chicago. But, the Constellation name will live on as the companies’ competitive power division, which will be headquartered in a $120 million building to be constructed at Harbor Point in Baltimore. Constellation will move from its current headquarters on Pratt Street at the Inner Harbor. (The Daily Record, 3/12/2012)
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