A Weil team led by New York partners Morgan Bale and Jennifer Bensch advised Barclays and Goldman Sachs in connection with providing $7.2 billion of committed bridge financing backing Exelon Corporation’s $6.8 billion acquisition of Pepco Holdings Inc., a Washington D.C.- based utility.
The acquisition will create a mid-Atlantic utility company serving about 10 million customers from D.C. up to Philadelphia and southern New Jersey, with a rate base of about $26 billion. The transaction is expected to close in the second or third quarter of 2015.
The Weil team advising Barclays and Goldman Sachs was led by Banking & Finance partner Morgan Bale and Capital Markets partner Jennifer Bensch, and included Environmental partner Annemargaret Connolly (Washington DC); M&A partner Michael Lubowitz; Tax partner William Horton; Litigation partners Greg Danilow, Chip Roh (Washington DC), Steven Tyrrell (Washington DC) and Irwin Warren; Tax counsel Steven Margolis; Banking & Finance associates Peter Puk and Heather Viets; Capital Markets associates Alicia Alterbaum, Raghav Thapar and Jennifer Waisberg; Environmental associate Thomas Goslin (Washington DC); M&A associate André Nance; Tax associate William Dong; Real Estate associates Melissa Meyrowitz and Mallory Owen; and Regulatory associate Timothy Welch (Washington DC) (all in New York unless otherwise specified).
