Pepco Holdings Jumps 9 Percent After Maryland Regulator Approves Exelon Takeover

Pepco Holdings (POM) ended Friday's trading day up 8.8 percent, making it TheStreet's Move of the Day.
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Pepco Holdings (POM) ended Friday's trading day up 8.8 percent, making it TheStreet's Move of the Day. Shares of the electric services company jumped after the Maryland Public Service Commission allowed energy company Exelon (EXC) to acquire Pepco. The deal was initially given the go-ahead by regulators in Virginia, New Jersey and the Federal Energy Regulator Commission, per a report from the Wall Street Journal, though Washington, D.C. regulators still need to weigh in on the transaction. Pepco was also subject to increased trading volume on Friday. About 9 million shares were traded, compared to its average volume of 1.5 million shares. The stock is trading at $27 per share and shares are largely flat since the start of the year. Shares of Exelon, closed ahead 3 percent, but fell 7 percent year-to-date.