BALTIMORE (AP) — Electricite de France says it is dropping opposition to Exelon Corp.’s takeover of Baltimore-based Constellation Energy Group, Inc.
EDF announced Tuesday that it had reached agreement with Exelon over the independence of the Constellation Energy Nuclear Group.READ MORE: ‘The Numbers Slapped Them In The Face’ Father Shares His Family’s COVID-19 Diagnosis As Thousands Of Maryland Students Remain In Quarantine With Cases Rising
EDF is one of Constellation’s largest shareholders, owning nearly half of Constellation’s nuclear unit. EDF has said the merger would hurt growth of the unit.READ MORE: Maryland Faces One Of Its Worst Nursing Shortages In History, Health Officials Say
The $7.9 billion deal has been approved by the Justice Department, shareholders and New York and Texas regulators. The companies are still seeking approval from the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and Maryland regulators. Maryland Gov. Martin O’Malley also dropped initial opposition after the companies increased commitments to renewable energy and assistance to low-income residents.MORE NEWS: 'I Spent 36 Years In Prison For A Crime I Didn't Commit': City State's Attorney Office Talks About Program That Helps To Overturn Wrongful Convictions
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