Regulators just approved a deal that would create America's biggest utility company

Regulators approved Exelon’s takeover of Pepco utility on Wednesday afternoon.

Pepco shares surged by as much as 27% in trading, after being halted earlier.

The merger, first announced nearly two years ago, would create America’s biggest utility company.

The DC Public Service Commission approved the deal in Washington.

The roadblocks had centered around concern that the deal was in the public’s interest.

Here’s a chart showing the surge in Pepco shares, which have moved higher by a record amount according to Bloomberg:

More to come …

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