Market Overview

Constellation Energy Shares to be Delisted Following Merger with Exelon


Exelon Corporation (NYSE: EXC) and Constellation Energy (NYSE: CEG) today announced that Constellation's shares will no longer be listed on the New York Stock Exchange and the Chicago Stock Exchange and will cease being traded prior to the opening of markets on Tuesday, March 13, 2012. The action follows completion of Constellation's merger with Exelon, creating the nation's leading competitive energy provider.

Shareholders of both Constellation and Exelon will receive pro-rated dividends in order to synchronize the two companies' dividends so that Constellation shareholders will receive dividends at Constellation's rate through the day before closing and all Exelon shareholders (including former Constellation shareholders) will receive dividends at Exelon's rate from the closing date and after. As previously declared by Constellation's board of directors, a pro-rated dividend equal to $0.23760 per share of Constellation's common stock will be paid on April 11, 2012, to Constellation shareholders of record at the close of business on March 9, 2012.

Posted-In: M&A News


Related Articles (CEG + EXC)

View Comments and Join the Discussion!

UPDATE: Credit Suisse Initiates Neutral, $47 PT on Quality Systems

Market Roundup