Key Developments: Exelon Corp (EXC.N)

EXC.N on New York Stock Exchange

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26 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Exelon Corp declares quarterly dividend
Tuesday, 29 Jul 2014 11:06am EDT 

Exelon Corp:Declares a regular quarterly dividend of $0.31 per share.Payable on Sept. 10, to shareholders of record on Aug. 15.  Full Article

Exelon Corporation and Pepco Holdings Inc file for merger approval with utility commissions in Delaware, New Jersey and Washington, D.C
Wednesday, 18 Jun 2014 11:16am EDT 

Exelon Corporation and Pepco Holdings Inc:Files applications seeking approval of their proposed merger with the Delaware Public Service Commission, the Public Service Commission of the District of Columbia and the New Jersey Board of Public Utilities.Companies announced their proposed merger on April 30.Combination of companies will bring together Exelon's three electric and gas utilities - BGE, ComEd and PECO - and Pepco Holdings' (PHI's) three electric and gas utilities - Atlantic City Electric, Delmarva Power and Pepco - to create mid-Atlantic electric and gas utility.Filings describe the transaction's benefits to customers and the communities that the companies serve.Submission of filings initiates the regulatory approval process in Delaware, the District of Columbia and New Jersey.  Full Article

Exelon Corp prices common stock and equity units offerings
Thursday, 12 Jun 2014 08:00am EDT 

Exelon Corp:Prices concurrent public offerings of 50,000,000 shares of its common stock in connection with forward sales agreements and 20,000,000 equity units (aggregate stated amount of $1 bln).Net proceeds of offerings will be used to finance portion of the Pepco Holdings Inc. and for general corporate purposes.Prices 50,000,000 shares of its common stock at public offering price of $35 per share and has granted the underwriters 30-day option to purchase an additional 7,500,000 shares of Exelon common stock upon same terms.Offering of common stock is expected to close on June 17.  Full Article

Exelon Corp announces common stock and equity units offerings
Tuesday, 10 Jun 2014 04:01pm EDT 

Exelon Corp:Says that it plans to commence concurrent registered offerings of 50,000,000 shares of its common stock in connection with forward sales agreements and 20,000,000 equity units.Net proceeds of the offerings will be used to finance a portion of the Pepco Holdings Inc. acquisition announced on April 30, 2014, and for general corporate purposes.  Full Article

Exelon declares regular quarterly dividend
Tuesday, 6 May 2014 12:34pm EDT 

Exelon Corp:Declares a regular quarterly dividend of $0.31 per share.Payable on June 10 to shareholders of record on May 16.  Full Article

Exelon Corporation and Pepco Holdings gives Q2 2014 EPS guidance in line with analysts' estimates - Conference Call
Wednesday, 30 Apr 2014 11:00am EDT 

Exelon Corporation and Pepco Holdings Inc:Expects guidance of $0.40 to $0.50 per share for the Q2 2014 operating earnings.Q2 2014 EPS of $0.50 - Thomson Reuters I/B/E/S.  Full Article

Exelon Corporation to acquire Pepco Holdings Inc
Wednesday, 30 Apr 2014 06:00am EDT 

Exelon Corporation and Pepco Holdings Inc:Signs definitive agreement to combine the two companies in all-cash transaction.Says brings together Exelon's three top-performing electric and gas utilities - BGE, ComEd and PECO and Pepco Holdings' electric and gas utilities - Atlantic City Electric, Delmarva Power and Pepco.Says to create Mid-Atlantic electric and gas utility.Combined utility businesses will serve about 10 mln customers and have a rate base of about $26 bln.Transaction will further expand Exelon's regulated holdings, ensuring a balanced earnings mix as power prices recover.Says all-cash transaction consideration of $27.25 per share represents a 24.7 pct premium to Pepco Holdings' closing price of $21.85 on April 25.Transaction is supported by a fully committed $7.2 bln bridge facility with Barclays and Goldman Sachs.Exelon expects the permanent financing plan to include a combination of Exelon equity issuance, long-term debt and corporate cash.Barclays, Goldman, Sachs & Co. and Loop Capital Markets are serving as financial advisors and Kirkland & Ellis LLP is serving as legal counsel to Exelon.Lazard provided fairness opinion and served as lead financial advisor to Pepco Holdings, Morgan Stanley provided fairness opinion to Pepco Holdings Board.Says Sullivan & Cromwell LLP and Covington & Burling LLP served as legal counsel to Pepco Holdings.  Full Article

EDF SA and Exelon finalize agreement on CENG
Tuesday, 1 Apr 2014 12:10pm EDT 

Electricite de France SA:Finalizes transaction with Exelon Corp, regarding Constellation Energy Nuclear Group (CENG) after approval of U.S. Nuclear Regulatory Commission (NRC).Transaction terms set in agreement with Exelon dated July 29, 2013.Delegates to Exelon, U.S. nuclear operator, operational management of five nuclear reactors owned by CENG (spread across three sites in United States and representing total output of 4.2 GW).Special dividend of $400 million (about 300 million euros) paid by CENG to EDF, financed by Exelon.EDF granted option to sell its holding in CENG to Exelon at market value between Jan. 2016 and June 2022.EDF continues to hold 49.99 pct of CENG, whilst Exelon holds 50.01 pct.CENG Board of Directors continues to comprise equal numbers of Exelon and EDF board members.  Full Article

Exelon Corp announces acquisition of ETC ProLiance Energy
Wednesday, 19 Mar 2014 08:00am EDT 

Exelon Corp:Reaches agreement to purchase ETC ProLiance Energy, Indianapolis-based supplier of natural gas to commercial and industrial customers, plus power generators and utilities, over 2,500 customer facilities.Terms of acquisition were not disclosed.  Full Article

Exelon Corp issues FY 2014 EPS guidance in line with analysts' estimates
Thursday, 6 Feb 2014 08:00am EST 

Exelon Corp:Expects FY 2014 adjusted (non-GAAP) operating earnings of $2.25 to $2.55 per share.FY 2014 EPS of $2.28 - Thomson Reuters I/B/E/S.  Full Article

N.Y. wants deal to keep Ginna power reactor on line

- New York utility regulators said they wanted Rochester Gas and Electric to negotiate with the Ginna nuclear power plant to keep the reactor in service to maintain the reliability of the power grid.

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