FOR IMMEDIATE RELEASE THURSDAY, SEPTEMBER 28, 2006 WWW.USDOJ.GOV AT (202) 514-2007 TDD (202) 514-1888 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. 06-657
Source: US Department of Justice
