Deals
Exelon Closes in on $6.8 Billion Pepco Deal With Settlement
- Exelon would boost customer investment fund to $72.8 million
- People's counsel and attorney general agree to settlement
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Exelon Corp. moved a step closer to completing its $6.8 billion takeover of utility Pepco Holdings Inc. by announcing a settlement with Washington’s mayor.
As part of the pact, Exelon would move the headquarters of its corporate strategy and utility operations to the U.S. capital, more than double a customer investment fund to $72.8 million and contribute $5.2 million to workforce development programs, a company filing shows. It would also buy 100 megawatts of power from wind farms, Mayor Muriel Bowser, joined by the district people’s counsel and attorney general, said at a press conference in Washington Tuesday.