8-KOther EventsExhibits & Filings

EXELON CORP 8-K Report, Corporate Update (Jan 14, 2015)

Filed January 14, 2015For Securities:EXC

Summary

This 8-K filing from Exelon Corporation reports a significant development in its proposed acquisition of Pepco Holdings, Inc. (PHI). On January 14, 2015, Exelon and PHI, along with relevant parties including the New Jersey Board of Public Utilities (NJBPU) Staff and Independent Energy Producers of New Jersey, filed a Stipulation of Settlement with the NJBPU. This settlement is a crucial step towards obtaining regulatory approval for the merger. The filing indicates that while this settlement is subject to final approval by the NJBPU, the parties involved continue to anticipate the completion of the merger in the second or third quarter of 2015. Investors should note that this merger remains subject to approvals from other public service commissions in the District of Columbia, Delaware, and Maryland, highlighting the ongoing regulatory hurdles.

Key Highlights

  • 1Exelon Corporation and Pepco Holdings, Inc. (PHI) filed a Stipulation of Settlement with the New Jersey Board of Public Utilities (NJBPU) on January 14, 2015.
  • 2This settlement is a key step in obtaining regulatory approval for Exelon's proposed merger with PHI.
  • 3The settlement was filed jointly by Exelon, PHI, Atlantic City Electric, the Staff of the NJBPU, and the Independent Energy Producers of New Jersey.
  • 4The settlement is contingent upon final approval from the NJBPU.
  • 5Exelon and PHI continue to project the completion of the merger for the second or third quarter of 2015.
  • 6Regulatory approval from the public service commissions of the District of Columbia, Delaware, and Maryland is still required.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce that Exelon Corporation and Pepco Holdings, Inc. have filed a Stipulation of Settlement with the New Jersey Board of Public Utilities as part of the process to gain regulatory approval for Exelon's proposed acquisition of Pepco Holdings.

No, the merger has not been fully approved. The filing of the Stipulation of Settlement with the NJBPU is a significant step, but it is subject to the NJBPU's final approval. Additionally, approvals from the public service commissions in the District of Columbia, Delaware, and Maryland are still pending.

Exelon and Pepco Holdings continue to expect the completion of the merger to occur in the second or third quarter of 2015.

Besides the approval from the New Jersey Board of Public Utilities, the merger also requires approval from the public service commissions of the District of Columbia, Delaware, and Maryland.