Pepco Holdings Inc., an electricity and natural gas provider in the mid-Atlantic region, was sued by a shareholder who claims the company is undervalued in a proposed $6.8 billion takeover by Exelon Corp.
U.S. stocks rose for the week, with the Dow Jones Industrial Average reaching a record, as earnings topped forecasts and the Federal Reserve said it would further trim bond purchases as the economy gains momentum.
U.S. stocks advanced, sending the Dow Jones Industrial Average to a record, after the Federal Reserve said the economy is gaining momentum. Treasuries rose and the dollar dropped as the central bank signaled low rates would persist for a “considerable time.”
Kirkland & Ellis LLP is advising Exelon Corp., the largest U.S. nuclear operator, on its agreement to buy Pepco Holdings Inc. in an all-cash deal for $6.8 billion. Sullivan & Cromwell LLP and Covington & Burling LLP served as legal counsel to Pepco.