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As part of its merger agreement with Constellation, Exelon (EXC +1%) says it will sell its three...

As part of its merger agreement with Constellation, Exelon (EXC +1%) says it will sell its three Maryland coal-fired power plants to Raven Power for $400M. The sale is expected to close in Q4, and will generate about $205M in tax benefits, with the majority to be realized in 2012 and 2013. EXC will record a pre-tax loss of about $275M in Q3 to reflect the difference between the estimated sale price and the carrying value of the plants.
Comments (2)
  • Dozo
    , contributor
    Comments (18) | Send Message
     
    America has bountiful coal (and gas and oil) resources. It is unfortunate the current administration will not exploit carbon fueled energy in any form. Appears to me EXC is selling at a loss--hence the tax benefits.
    9 Aug 2012, 06:29 PM Reply Like
  • groundhawk1
    , contributor
    Comments (62) | Send Message
     
    If Obama get chucked out, those coal plants will be worth more than what we are selling them for.
    9 Aug 2012, 11:30 PM Reply Like
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