Exelon wanted to offer to build more renewable energy as part of its $7.9 billion bid for Constellation, the company’s president testified Tuesday as top executives for both appeared for a second day before Maryland regulators.
Maryland regulators have added two days to their review of the proposed sale of Constellation Energy to Exelon Corp.
Exelon’s president says some conditions that the state of Maryland is trying to impose on its proposed buyout of Constellation Energy Group are unrealistic.
A Maryland consumer agency says the proposed buyout of Constellation Energy Group by Chicago-based Exelon is a bad deal for customers of Baltimore Gas and Electric Co., a Constellation subsidiary.
Constellation’s merger is bad business for BGE customers, according to Governor Martin O’Malley and other Maryland lawmakers.
Exelon Corp., which is seeking to buy Baltimore-based Constellation Energy Group, has donated $250,000 to the Democratic Governors Association.
Shareholders of Constellation Energy Group have voted against proposed pay package for the chief executive and other top officials.
Constellation Energy Group has filed with Maryland energy regulators an application seeking approval of its sale to Exelon Corp.
The deal to sell Constellation Energy would create the largest energy supplier in the nation. But the sale of Baltimore’s sole Fortune 500 company is raising concern.
Exelon Corp. agreed to buy Constellation Energy Group Inc. for $7.9 billion Thursday, the latest in a string of acquisitions in the electric power industry.