Exelon to buy Constellation Energy in $7.9 billion deal  In a bid to become one of the biggest generators of electricity in the U.S., Exelon Corp announced this week it plans to buy Constellation Energy Group in a deal worth a reported $7.9 billion.

On Thursday, the boards of directors at both companies said they had reached an agreement to merge the two companies in a stock-for-stock transaction. The move is strategic as Exelon boasts a large, environmentally-advantaged generation fleet that will complement Constellation's customer-facing business. According to the two companies, the merger would help drive growth going into the next decade.

Per terms of the deal, the merged company would retain the Exelon name and would be headquartered in Chicago. The renewable energy divisions of both companies would remain located in Baltimore, Maryland, as would Constellation's retail and wholesale businesses, which will be consolidated.

Exelon chairman and chief executive John W. Rowe affirmed the deal would create a power company that is equipped to deal with the unique energy challenges the U.S. faces over the next decades. "This merger creates the number one competitive energy provider with one of the industry's cleanest and lowest-cost power generation fleets and one of the largest commercial, industrial and residential customer bases in the United States," Rowe said in a statement. 
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