DoJ Sues to Block Exelon's (EXC) Purchase of Constellation Energy (CEG)
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Shares of Constellation Energy (NYSE: CEG) went parabolic just after noon Wednesday following a Bloomberg headline which rumored the US DoJ has sued to block Exelon's (NYSE: EXC) acquisition of the company. The Justice Department said the deal would likely reduce competition.
Constellation shares plunged over 10 percent following the headline, quickly being halted by a volatility circuit breaker. The stock re-opened down just 2 percent and has since bounced further, now down just 0.7 percent from Tuesday's close. The stock last traded at $38.23.
Shares of Exelon, meanwhile, have dipped about 1.3 percent to $42.32.
Constellation shares plunged over 10 percent following the headline, quickly being halted by a volatility circuit breaker. The stock re-opened down just 2 percent and has since bounced further, now down just 0.7 percent from Tuesday's close. The stock last traded at $38.23.
Shares of Exelon, meanwhile, have dipped about 1.3 percent to $42.32.
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