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Pepco, Exelon maintain deal closing deadline amid regulatory scrutiny

Published 2016-03-04, 11:08 a/m
© Reuters. Pepco, Exelon maintain deal closing deadline amid regulatory scrutiny
EXC
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March 4 (Reuters) - Pepco Holdings Inc POM.N , which is
awaiting regulatory approval from Washington DC for its
acquisition by Exelon Corp (NYSE:EXC) EXC.N , said the two utilities have
not extended the deadline to close the deal, but were in talks
with state authorities.
Pepco's statement on Friday comes a week before a deadline
set by Washington's Public Service Commission for the companies
to accept the revisions it has proposed as conditions for
approving the deal.
The commission on Feb. 26 gave the two companies until March
11 to accept its proposed conditions. But, Washington's mayor
and the city's Office of the People's Counsel on Tuesday
rejected the proposed changes.
Exelon and Pepco have already won approval from Delaware,
Maryland, New Jersey, Virginia and the U.S. Federal Energy
Regulatory Commission.
Both companies, which reached a $6.83 billion merger
agreement in April 2014, are continuing talks with the DC
government and other parties about the commission's order, Pepco
said in a regulatory filing. (http://1.usa.gov/1TYruSV)

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