Team of Saul Ewing attorneys wins key approval for Constellation/Exelon merger
A team of more than 10 Saul Ewing attorneys has secured the approval of the Maryland Public Service Commission (“PSC”) for Exelon Corporation and Constellation Energy Group, Inc. to proceed with their approximately $8 billion merger. The merger will create the largest competitive energy supplier in the country. The PSC’s February 17, 2012 approval was a key step toward completing the merger, which closed today.
Saul Ewing represented both companies before the PSC. The PSC regulatory process included six rounds of written testimony, extensive discovery propounded by over 20 parties, and 11 days of evidentiary hearings that involved the live testimony of 37 witnesses. The merger will result in substantial benefits for Maryland, the city of Baltimore and Baltimore Gas & Electric customers totaling more than $1 billion, and is expected to create more than 6,000 jobs in the state.