Feds approve Exelon's $6.8B takeover of Pepco

On its third attempt, the District of Columbia Public Service Commission yesterday approved Exelon Corp.’s $6.8 billion takeover of Pepco Holdings Inc.

The vote paves the way for the creation of the nation's largest utility nearly two years after the deal was announced.

The acquisition faced opposition by environmental groups and government officials, who contended the combination would create too large of a corporate entity that could soon impose rate increases.

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