Constellation Buys Power Retailer MXenergy For $175M

Law360, New York (May 12, 2011, 2:02 PM EDT) -- Baltimore-based Constellation Energy Group Inc., itself in the midst of being swallowed up, said Thursday it would pay $175 million to buy Stamford, Conn.-based MXenergy, a retail natural gas and electricity supplier with about 540,000 customers in the U.S. and Canada.

The purchase comes as Chicago-based Exelon Corp. works toward its own purchase of Constellation Energy for $7.9 billion in a stock-for-stock transaction that would create the nation's largest competitive power generator.

Most of Constellation Energy's profits come from the operation of its regulated utility, Baltimore...
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