Exelon Strikes Deal To Purchase Pepco

(Washington, DC) -- After a century of providing utility service in Washington, DC, Pepco will soon be handing over the reigns to a Chicago-based energy giant. Exelon has struck an all-cash deal to purchase Pepco for more than six-point-eight-billion-dollars. Shareholders and regulators still need to approve the deal, which won't actually close until mid-2015.