Deals
Exelon Said to Reach Tentative Pact With Mayor on Pepco Deal
- Exelon proposed to buy utility Pepco for $6.8 billion
- Agreement to include more customer credits, DC headquarters
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Washington’s mayor is sharing with stakeholders a tentative agreement reached with Exelon Corp. on its $6.8 billion proposal to buy utility Pepco Holdings Inc., people with direct knowledge of the discussions said.
The draft agreement, presented by Mayor Muriel Bowser’s office to groups who have weighed in on the takeover before city utility regulators, would include more customer credits than Exelon and Pepco initially proposed, said the people, who asked not to be identified because the information isn’t public. It would also require Exelon to establish a second headquarters in Washington, where Pepco is already based, one of the people said.