By Greg Hazley
APCO Worldwide has been called on to support Exelon’s $7.9B acquisition of renewable power company Constellation Energy announced today to create one of the largest electricity generators in the U.S. with about 6.6M customers.
Exelon is the top nuclear power generator in the U.S.
The deal, approved by both boards, is a stock-for-stock transaction to create a combined company based in Chicago under the Exelon name. The Constellation brand will stay on its retail and wholesale electricity business and add Exelon’s power marketing unit under that banner.
Elizabeth Wolf, corporate media relations manager for APCO in Washington, D.C., told O’Dwyer’s the firm has been retained by both parties to assist in communications efforts surrounding the transaction.
Exelon COO Christopher Crane will take over as CEO of the combined company as Exelon’s current chief, John Rowe, heads to retirement.
The companies have produced a website for the deal – www.exelonconstellationmerger.com – which is expected to close next year, pending shareholder and regulatory approval.
The combined entity would reach 38 of the 50 states and two Canadian provinces.
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