U.S. energy utility, Exelon, is seeking to acquire Constellation Energy in a stock for stock deal, The Wall Street Journal reports. The Illinois-based company has offered around $7.7 billion for the electricity generator and utility operator, Constellation.
Constellation shareholders are likely to receive 0.93 Exelon shares for each of their shares. Barclays and JP Morgan are advising Exelon on the deal, while Maryland-based Constellation is being advised by Morgan Stanley, adds Financial Times.
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