Pepco Shares Tumble 17% As D.C. Commission Blocks Exelon Deal-- Report

By Ciara LinnaneMarketWatch Pulse

Pepco Holdings Inc. shares tumbled 18% Tuesday, after the D.C. Public Service Commission denied an application from energy giant Exelon Corp. to acquire Pepco in a $6.4 billion deal, the Washington Post reported. The three-member commission voted unanimously to block the deal, saying it was not in the best interests of ratepayers, according to the paper. Exelon shares fell 3% on the news. Both stocks had been halted temporarily for the news.

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