USDOJ: Antitrust Lawsuit Against EXELON Dropped As Merger Plans With PSE&G Dropped

Department of Justice Seal Department of Justice
FOR IMMEDIATE RELEASE
THURSDAY, SEPTEMBER 28, 2006
WWW.USDOJ.GOV
AT
(202) 514-2007
TDD (202) 514-1888

Justice Department Dismisses Antitrust Lawsuit Against Exelon Corp. and Public Enterprise Service Group Inc.
Exelon Abandons Efforts to Acquire PSEG

WASHINGTON — The Department of Justice today announced that it filed a notice with the U.S. District Court for the District of Columbia to dismiss its antitrust complaint challenging the potential acquisition of Public Service Enterprise Group Inc. (PSEG) by Exelon Corp. Exelon has formally abandoned its effort to acquire PSEG, and therefore the lawsuit and proposed consent decree are no longer necessary, the Department said.

Background

On June 22, 2006, the Department filed an antitrust lawsuit in U.S. District Court for the District of Columbia alleging that the acquisition would harm competition in markets for wholesale electricity in the Mid-Atlantic region. At the same time, the Department filed a proposed settlement of the lawsuit that would preserve competition by requiring Exelon to divest six electricity generating plants, with a total generating capacity of more than 5,600 megawatts, in order to proceed with its $16 billion acquisition of PSEG.

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