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| FPL Group will not complete the merger with Constellation Energy FPL Group, Inc. and Constellation Energy have reached a joint and amicable agreement to terminate their plans to merge. Constellation Energy initiated a request to end the planned merger, citing continued uncertainty over regulatory and judicial matters in Maryland and the potential for a protracted and open-ended merger review process. The two companies said that they will formally withdraw merger approval applications pending before the Maryland Public Service Commission, the Federal Energy Regulatory Commission and other relevant agencies, as well as legal requests filed with the state of Maryland. FPL Group, with annual revenues of more than $11 billion, is nationally known as a high-quality, efficient, and customer-driven organization focused on energy-related products and services. Constellation Energy, a FORTUNE 200 company with 2005 revenues of $17.1 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. write your comments about the article :: © 2006 Construction News :: home page |