U.S. and 11 Pacific Rim nations reach deal on massive trade accord

Mergers, Acquisitions and Takeovers

Merger of BGE parent company and Pepco approved

Despite continuing opposition from critics that include Maryland's attorney general, state regulators approved a $6.9 billion merger between Baltimore Gas and Electric parent Exelon Corp. and Pepco Holdings in a split vote Friday. In applying for the merger, Exelon argued the deal would bring a host of benefits to both Pepco and BGE customers, including a faster response to power outages during storms and smaller rate hikes than might occur otherwise. Critics worry, however, that consolidating the state's largest electric utilities under Exelon would lead to bigger rate hikes. Maryland Attorney General Brian E. Frosh, who strongly opposed the merger on behalf of the Maryland...