As told by one of the sources, Exelon, Chicago, which is known as the Illinois-based power company, is ready to announce a deal. This deal is about acquiring the Constellation Energy in an all-stock transaction.

Exelon Corp. (EXC), who is the largest operator of U. S. nuclear power plants, is buying CEG for about $7.7 billion. Along with this, it has also decided to add stakes in five reactors in New York and Maryland.

According to this source, the Chairman and CEO John Rowe has to retire and Chief Operating Officer Christopher Crane will now become the new CEO of the combined entity. Mayo Shattuck, who is the present Constellation CEO, will from now onwards resume the role of Executive Chairman.

It’s been more than two weeks now, when both the senior executives with an aim to hammer out the deal, met each other in New York. It has been reported by the media, that this combined entity will be valued at USD 8.1bn.

In this regard, Paul Patterson who is a New York-based utility analyst at Glenrock Associates LLC said, “Constellation has a substantial retail marketing business and Exelon has a whole lot of wholesale power to sell”.