NEW YORK: Exelon Corp, America's largest nuclear power company, has agreed to buy New Jersey utility Public Service Enterprise Group Inc for US$13.2bil in stock, creating the country's largest utility.
Exelon said the purchase of PSEG, with which it already owns some nuclear plants, would boost earnings immediately. The two companies said on Monday the deal could close by the end of next year, but some analysts said regulatory challenges may arise.
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