Utility giant Exelon cast doubt on its ability to complete its $16 billion takeover of Public Service Enterprise Group, blaming New Jersey regulators for the uncertainty. In a filing Tuesday with the SEC, Exelon said that 20 months after the purchase was first announced, the odds of regulatory approval are not good, based on the status of proceedings before the New Jersey Board of Public Utilities. The proposed merger would create the country’s biggest electric utility and largest power supplier.
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Posted on Thursday, August 31st, 2006. Filed under: Business Law, Law Misc
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