Pepco Holdings
2016
$6.8B
Why
The company acquired Pepco Holdings for $6.8 billion to instantly expand its regulated footprint into Washington D.C., Maryland, and Delaware, solidifying its position as the largest regulated utility in the United States by customer count and diversifying its geographic revenue base.
Impact
The acquisition provided Exelon with a massive, established regulated customer base and a dominant position in the Mid-Atlantic market, allowing the company to cross-sell its centralized operational expertise and accelerate its rate base growth in new, highly favorable regulatory jurisdictions.
Outcome
Following a fierce, multi-year regulatory battle that initially saw the deal blocked by D.C. regulators, the acquisition was successfully closed in 2016 after significant concessions, resulting in record earnings and solidifying the company’s position as the dominant player in the North American regulated utility market.