Sun coverage: Constellation, Exelon merger
3:00 PM EST, March 8, 2012
Constellation to be replaced on S&P 500 index
Constellation Energy Group, which is being sold to Chicago-based Exelon Corp., will be replaced on the S&P 500 index by a Houston wireless company.
7:32 PM EST, February 22, 2012
Three Constellation directors named to Exelon board
Constellation Energy Group's three directors have been named to serve on Exelon's board of directors once the merger between the two energy giants is completed
8:16 PM EST, February 17, 2012
Constellation reports 4Q loss
Constellation Energy Group, which is selling itself to Exelon Corp., reported a loss Friday in the fourth quarter, what is expected to be the energy giant's last earnings release as a publicly traded Baltimore company.
8:11 PM EST, February 17, 2012
Maryland PSC approves Constellation sale to Exelon
Maryland regulators approved Constellation Energy Group's sale to Chicago-based Exelon Corp. on Friday, setting the stage for Baltimore to lose its last Fortune 500 company to an out-of-state owner.
5:26 PM EST, February 16, 2012
State energy regulators to decide on Constellation merger
Maryland energy regulators are expected to issue a decision Friday on the proposed sale of Constellation Energy Group to Chicago-based Exelon Corp.
6:02 PM EST, February 8, 2012
Exelon lays out plans for new Baltimore headquarters
Exelon Corp.'s new headquarters in Baltimore is designed to be a glassy, 22-story skyscraper, similar in style to the Legg Mason tower, which would be a neighbor on the Harbor East waterfront, according to preliminary designs revealed Wednesday.
1:12 AM EST, February 2, 2012
Exelon picks Harbor Point for future headquarters
Harbor Point, a development project led by bakery magnate and developer John Paterakis Sr., will be the site of the headquarters for the combined Constellation-Exelon company if the proposed merger is completed, the energy giants announced Wednesday.
9:12 PM EST, January 26, 2012
Developer seeks tax break to lure Exelon
The owner of one of the last undeveloped sites at the Inner Harbor is seeking a property tax break from the city to allow it to compete with the developers of four other sites that have proposed or considered building a downtown headquarters for Exelon Corp.
7:14 PM EST, December 24, 2011
New energy firm headquarters could alter city skyline
Exelon Corp.'s pledge to build a new Baltimore headquarters as part of its proposed buyout of Constellation Energy could alter the city's skyline, injecting fresh life into the traditional downtown business district or further expanding the waterfront corporate center east of the harbor.
4:32 PM EST, December 21, 2011
Constellation, Exelon settle with Justice Department
Constellation Energy Group's plans to sell itself to Exelon Corp. cleared a regulatory hurdle Wednesday after the two companies reached a proposed settlement with the U.S. Department of Justice.
December 17, 2011
Regulators extend deadline for Constellation-Exelon merger decision
Maryland regulators agreed Friday to postpone their decision on the $7.9 billion merger of Constellation Energy Group and Exelon Corp. until Feb. 17, giving themselves more time to evaluate a proposed settlement between the companies and Gov. Martin O'Malley.
5:57 PM EST, December 15, 2011
O'Malley: Benefits of Exelon-CEG merger go beyond rate credit
While Maryland business, labor and environmental groups backed a $1 billion settlement between Gov. Martin O'Malley and Exelon Corp. related to the Chicago company's buyout of Constellation Energy Group, not everyone was satisfied.
11:01 PM EST, December 14, 2011
Jay Hancock: Exelon boss wants merger badly, and he's paying for it
John Rowe made no secret of the fact that he badly wanted a signature merger to top off his career as the chief executive of Exelon Corp. How badly can be seen in the settlement he just agreed to in Exelon's bid to purchase Baltimore's Constellation Energy.
11:01 PM EST, December 14, 2011
Governor gets concessions in Exelon deal
In a settlement with Gov. Martin O'Malley over the proposed buyout of Constellation Energy Group, Exelon Corp. has promised to develop significantly more natural gas, wind and solar power in Maryland, give more money to help low-income customers and provide more protections for Baltimore Gas and Electric.
7:53 PM EST, November 7, 2011
Constellation and EDF: A marriage gone south
Two years ago, Constellation Energy Group and its French nuclear partner EDF were BFFs.
6:00 AM EST, November 7, 2011
Editorial: The merger's green lining
The Maryland Public Service Commission's ongoing review of the proposed merger of Constellation Energy Group and Exelon Corp. has uncovered numerous pros and cons for the Baltimore-area consumer, from the loss of a corporate headquarters to the proposed one-time $100 credit on consumer bills. Much more testimony remains to be heard. But if there's one wrinkle to emerge from last week's hearings that demands a PSC response, it's this: Exelon appears interested in investing more in Maryland-based renewable power.
3:06 PM EDT, November 5, 2011
Marbella: Constellation and Occupy Baltimore, a tale of our times
You might have seen the news footage of the guy in the orange construction vest who a couple of weeks back angrily yelled at the Occupy Baltimore encampment that he was "working his butt off to support you guys," apparently referring to the unemployed among them.
5:36 PM EDT, November 3, 2011
Two state senators recommend spinoff of BGE
A top Exelon Corp. executive said Thursday that separating Baltimore Gas and Electric Co. from parent Constellation Energy Group would be a "deal breaker" for the proposed $7.9 billion merger between the two energy giants.
8:16 PM EDT, November 2, 2011
Exelon executive: 600 positions identified for cuts under merger
Exelon Corp. has identified some 600 corporate positions that would be eliminated under a merger with Baltimore's Constellation Energy Group, a top executive of the Chicago energy giant said Wednesday.
10:34 PM EDT, November 1, 2011
EDF questions energy chiefs on second day of merger hearings
Constellation Energy's second-largest shareholder and a partner in its nuclear business grilled the Baltimore company's chairman and chief executive, Mayo A. Shattuck III, about his compensation and proposed role at Exelon Corp. during the second day of regulatory hearings on the $7.9 billion merger of the two energy giants.
8:51 PM EDT, October 31, 2011
Constellation, Exelon chiefs testify before PSC
Top executives of Constellation Energy Group and Exelon Corp. faced questions about reliability, local management of Baltimore Gas and Electric, and corporate governance Monday at the start of what is expected to be an exhaustive regulatory review of the proposed $7.9 billion merger of the two energy giants.
October 30, 2011
Exelon's Philadelphia utility fulfills promises to customers, regulators
As Exelon Corp. continues to pursue Constellation Energy Group, the Chicago energy giant is pointing to a decade-old deal with a Philadelphia utility as a success that should reassure wary Marylanders — and regulators — about its intentions toward Baltimore's last Fortune 500 company.
7:33 PM EDT, October 28, 2011
Constellation Energy Group posts $74 million profit
As Maryland energy regulators prepare to review next week Constellation Energy Group's plan to sell itself to Exelon Corp., the Baltimore energy company posted Friday a $74 million profit in the third quarter.
6:46 PM EDT, October 25, 2011
Constellation merger hearings to take longer than expected
Maryland energy regulators have added at least two more days to their review of Constellation Energy Group's plans to sell itself to Chicago-based Exelon Corp.
8:36 PM EDT, October 12, 2011
Energy analysts: Constellation-Exelon merger likely to go through
Despite continuing challenges to Constellation Energy Group's plans to sell itself to Exelon Corp., analysts say the $7.9 billion deal is likely to overcome major regulatory obstacles, including those in Maryland, where critics are seeking concessions to make the merger more palatable.
10:14 AM EDT, October 12, 2011
Constellation, Exelon shareholder meeting on merger set for Nov. 17
Constellation Energy Group and Exelon Corp. shareholders will have their say on the companies' proposed merger at separate meetings on Nov. 17, according to regulatory documents filed Wednesday.
6:11 PM EDT, October 11, 2011
Constellation, Exelon agree to more concessions
Constellation Energy Group and Exelon Corp. have agreed to additional concessions to alleviate concerns over market power in the mid-Atlantic's electricity grid under the companies' plan to merge, according to documents filed Tuesday with federal and state energy regulators.
10:22 PM EDT, September 20, 2011
State suggesting sweeteners to Constellation-Exelon deal
As Constellation Energy Group prepares to sell itself to Chicago-based Exelon, critics are advancing proposals to make the deal more palatable to Maryland customers.
9:16 PM EDT, September 19, 2011
O'Malley administration: Commission should reject Constellation-Exelon deal
The O'Malley administration is asking state regulators to reject Constellation Energy Group's plan to sell itself to Chicago-based Exelon Corp. unless the companies provide greater assurance that the new owner can deliver reliable service to Maryland customers.
6:42 PM EDT, September 9, 2011
Exelon-Constellation announces leadership team for merged firm
Several top Constellation Energy executives would hold senior leadership positions in the combined company if its planned merger with Exelon Corp. is approved, Exelon said Friday.
7:30 AM EDT, August 9, 2011
Critic of Constellation deal wants $810 million in incentives
A critic of Constellation Energy Group's proposed merger with Chicago-based Exelon Corp. wants the two firms to provide $810 million in incentives to Maryland ratepayers and other stakeholders as part of the power companies' deal.
4:34 PM EDT, August 6, 2011
Jay Hancock: Customers protest fund switch by Constellation suitor Exelon
The dismantling of Exelon Corp.'s Zion Station nuclear power plant near Chicago is setting several remarkable precedents.
5:49 PM EDT, August 3, 2011
Shattuck: Constellation enjoying 'quiet summer' before merger review begins
Constellation Energy, preparing for regulatory review of its proposed merger with Chicago-based Exelon Corp., saw earnings per share rise by a third during the three months that ended June 30.
7:33 PM EDT, July 21, 2011
Md. ratepayer advocate protests Constellation-Exelon merger
Maryland's ratepayer advocate is objecting to Exelon Corp.'s proposed buyout of Constellation Energy Group, telling federal regulators that the combined company would have too much control of electricity prices on the grid that serves much of the Mid-Atlantic region.
8:07 AM EDT, May 4, 2011
Jay Hancock's Blog: Exelon hasn't set pay for Constellation's Shattuck
May 1, 2011
Lost 'Fortune'
Walk the streets of downtown Baltimore, and you might feel the presence of its corporate ghosts. On Gay Street, perhaps you'll meet Alexander Brown, the Irish immigrant who started the nation's first investment firm here more than 200 years ago.
May 1, 2011
Jay Hancock: This time, Constellation takeover will go through
Sometime around May 2012, you will open your BGE statement and react with mild pleasure, perhaps, on seeing that your bill is reduced by $200 or so.
8:36 PM EDT, April 28, 2011
Jay Hancock: Exelon deal bad for Baltimore despite jobs claim
Nobody knows better than Mayo Shattuck, the former investment banker, that economic value is determined by future cash flows.
10:54 PM EDT, April 27, 2011
Constellation reportedly takeover target of Chicago power company
Constellation Energy Group is reportedly in the final stages of takeover negotiations that could see it absorbed by the Chicago-based power company Exelon Corp., a deal that would usher Baltimore's last Fortune 500 company headquarters out of town.
7:08 PM EDT, March 14, 2011
Jay Hancock: Stock price may push Shattuck to sell Constellation to Exelon
Few things inspire financial journalists, stock analysts and investment bankers like rumors about corporate mergers and acquisitions.
9:38 PM EDT, April 15, 2011
Constellation CEO's total compensation up 44%
Constellation Energy Group CEO Mayo A. Shattuck III took in $15.7 million in total compensation last year, a 44 percent annual increase in a year when the company he manages posted a nearly billion-dollar loss.
7:26 PM EDT, April 26, 2011
BGE electric supply rates continue to decline
Customers who purchase electric power from Baltimore Gas & Electric Co. will pay about 11 percent less starting in June.
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