The Federal Energy Regulatory Commission or FERC approved the proposed merger of Exelon Corp. (EXC) and Pepco Holdings Inc. (POM), Exelon said on Friday.
Exelon noted that the companies have already made transaction-related filings with the Delaware Public Service Commission, Public Service Commission of the District of Columbia, New Jersey Board of Public Utilities and Maryland Public Service Commission. The transaction is also subject to the notification and reporting requirements under the Hart-Scott-Rodino Act and other customary closing conditions.
The transaction was approved by the Virginia State Corporation Commission in October and by PHI stockholders in September. The companies anticipate completing the merger in the second or third quarter of 2015.
In April, Exelon agreed to buy diversified utility company Pepco Holdings for $27.25 per share, implying a deal value of about $6.8 billion.
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