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 …
NOW WATCH: Adam Savage reveals why he and ‘MythBusters’ cohost Jamie Hyneman won’t be working together anymore
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.