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The Justice Department on Wednesday gave antitrust clearance to the merger of Exelon Corp. (EXC) and Constellation Energy Group Inc. (CEG), but said the companies must divest three electricity generating plants in Maryland in order to proceed with the deal.
The department said the transaction as originally proposed would have lessened competition for wholesale electricity and increased prices for consumers in the mid-Atlantic region.
-By Brent Kendall, Dow Jones Newswires; 202-862-9222; firstname.lastname@example.org