Archived coverage: Proposed CEG-FPL merger

Constellation and FPL give up on merger

Constellation Energy Group Inc. and Florida's FPL Group Inc. officially gave up on their merger plans yesterday after executives concluded the deal was hopelessly mired in a populist political debate in Maryland over deregulation and rising electricity rates.

With deal goes $1.62 credit on BGE customers' bills

The death of the Constellation merger and the savings it was supposed to provide will cost Baltimore Gas and Electric customers - but not much.

Reaction to deal failure crosses party lines

Gov. Robert L. Ehrlich Jr. seized on the failed merger of BGE's parent company and a Florida utility as clear evidence, two weeks before the election, that Democratic leaders are arrogant, over-reaching and anti-business.

Corporate Future

Constellation is likely to go it alone for now

Constellation Energy Group Inc. is unlikely to rush to find another acquirer in the wake of its failed deal with a Florida energy company, and it might eventually look to buy rather than sell, industry experts said yesterday.

What does end of deal mean for all parties?

Now that the merger between Constellation Energy and a Florida utility is off, what does this mean for the Baltimore-based company, its customers, the state and others?

Frequently asked BGE questions

Customers in Florida unsold on bigger utility

Lou Barry has seen his Florida Power & Light Co. bill soar because of hurricane-related surcharges and adjustments for higher fuel costs. So when parent FPL Group Inc. announced its planned $11.5 billion acquisition of Baltimore's Constellation Energy Monday, he wondered whether he's in effect paying for it.

FPL officials get raises

As FPL Group's CEO was nearing a merger deal last week, Lewis Hay III and other top Florida Power & Light executives got pay raises for 2006.

Sun Q&A: Bernie Kohn on Constellation-FPL deal

Mitchell, Baltimore: Why doesn't the Florida Public Service Commission have to approve the merger as the Maryland Public Service Commission does?

CEG, FPL agree to stiff fees if deal fails

Some investors may not like the price FPL Group Inc. has agreed to pay for Constellation Energy Group Inc., but the companies made sure that a competitor would need very deep pockets to swoop in with a sweeter offer now.

Constellation, FPL unveil $11.5 billion merger plan

After Mayo A. Shattuck III and Lewis Hay III began meeting last spring to discuss a merger of the power companies they lead, they described their talks as "Project NASCAR." Shattuck's Constellation Energy Group Inc. in Baltimore was code-named "Chevy" and Hay's FPL Group Inc. was "Ford."

Agreement spells out payments to Shattuck

According to the latest agreement, if Mayo A. Shattuck III, CEO of Constellation Energy Group Inc. and future chairman of FPL Group Inc., leaves the merged company:

Constellation-FPL merger

Merger impact weighed

Acknowledging that job losses are likely with the merger of Constellation Energy Group Inc. and Florida-based FPL Group Inc., executives tried yesterday to reassure workers that any reductions would be handled through attrition and retirements.

Jay Hancock: However it's spun, Baltimore is losing a headquarters

As sales of key corporate citizens to out-of-town landlords go, the merger of Constellation Energy with FPL Group isn't that bad. So why are they trying to spin us like a dynamo in a heat wave?

Local leaders see merger as positive for Baltimore

After days of rumors and speculation that raised fears that Baltimore might lose yet another corporate headquarters, local business and political leaders seized on what they saw as the positive news in yesterday's announcement that a Florida power company would buy Constellation Energy Group Inc.

Constellation-FPL Merger

Leaders stress their merger to be a 'marriage' of equals

In every detail, down to their coordinated dark suits with red ties, the chief executives at Constellation Energy Group Inc. and FPL Group Inc. wanted to drive home the message yesterday that they're merging - merging - as complementary equals.

Energy firms to detail merger

Constellation Energy Group and Florida-based FPL Group Inc. are expected to announce today a more than $11 billion merger that will create a Fortune 100 energy giant with joint headquarters in Baltimore and Juno Beach, Fla., a source familiar with the negotiations said yesterday.