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Exelon's Deal To Purchase Pepco For $6.83 Billion

Exelon Corp. has finally concluded an all cash deal to purchase Pepco Holdings for $27.25/share ($6.83 billion). This price is 20% higher than Pepco's closing price yesterday of $22.79. This deal will be financed through a $7.2 billion bridge facility with Barclays and Goldman Sachs and the plan will include equity issuance, long term debt as well as corporate cash.

The two companies claims that this combined utility will reach about 10 million customers int he mid-atlantic region. The acquisition is expected to conclude sometime in the middle of next year. With this decision, Joseh Rigby will be staying on as Pepco's CEO until the deal goes through. Exelon has a profit of $90 million, which is a huge rise over $4 million loss the previous year.