Exelon and Integrys Energy Group entered into a definitive agreement for Exelon to purchase Integrys Energy Services, a competitive retail electricity and natural gas subsidiary serving approximately 1.2 million customers. Integrys Energy Services will become part of Exelon's Constellation business unit. Exelon will pay $60 million for the Integrys retail operations, plus adjusted net working capital at the time of closing. The transaction does not include Integrys' energy assets - primarily solar - which will remain a part of Integrys Energy Group. The transaction is conditioned on approval by FERC and is subject to the notification and reporting requirements under the Hart-Scott-Rodino Act. The companies expect to close in fourth quarter 2014 or first quarter 2015.
