S&C advised Pepco Holdings Inc. in the completion of its $6.8 billion merger with Exelon Corporation.
The merger brought together Exelon’s three electric and gas utilities—BGE, ComEd and PECO—and Pepco Holdings’ three electric and gas utilities—Atlantic City Electric, Delmarva Power and Pepco—to create the leading mid-Atlantic electric and gas utility company. The transaction creates the largest U.S. power distributor.
The S&C team on the transaction is led by Joe Frumkin and Audra Cohen, along with Tia Barancik, Kiran Kadekar, Kate Walro and Jennifer Warne. Matthew Friestedt and Michael Snypes advised on executive compensation and benefits matters, Ronald Creamer advised on tax matters and Matthew Brennan advised on environmental matters.