Exelon Offers $7.7B For Constellation

U.S. energy utility,Exelon, is seeking to acquireConstellation Energyin a stock for stock deal,The Wall Street Journalreports. The Illinois-based company has offered around $7.7 billion for the electricity generator and utility operator, Constellation.

Constellation shareholders are likely to receive 0.93 Exelon shares for each of their shares.BarclaysandJP Morganare advising Exelon on the deal, while Maryland-based Constellation is being advised byMorgan Stanley, addsFinancial Times.

Click here for the story fromThe Wall Street Journal.

Click here for additional coverage fromFinancial Times.