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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
December 11, 2000
(Date of earliest
event reported)
EXELON CORPORATION
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-16169 23-2990190
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
37th Floor, 10 South Dearborn Street
Post Office Box A-3005
Chicago, Illinois 60690-3005
(Address of principal executive offices)
Registrant's telephone number, including area code:
(312) 394-4321
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Item 5. Other Events.
On December 11, 2000, Exelon Enterprises, a division of Exelon Corporation
(Exelon), and Exelon Infrastructure Services, Inc. (EIS), a business unit of
Exelon Enterprises, announced that EIS acquired three utility and industrial
infrastructure services companies and signed a definitive agreement to purchase
a fourth company.
The three acquired companies are M.J. Electric, Inc. of Iron Mountain, MI;
P.A.C.E. Engineering, Inc. of Tulsa, OK; and Electric Services, Inc. of East
Haven, CT. EIS has signed a definitive agreement to acquire Blair Park Services,
Inc. of Warrington, PA. This transaction is expected to close in January 2001.
The four companies have combined annual revenues of approximately $200 million
and employ a total workforce of approximately 1,100. Subsequent to these
acquisitions, EIS will have 8,000 employees and annualized revenues in excess of
$900 million.
The combined purchase price for the four new companies is approximately $196
million in cash and stock. These acquisitions are expected to be immediately
accretive to earnings and are expected to realize annualized revenues of more
than $245 million for calendar 2001. The contribution to Exelon's earnings per
share in 2001 is expected to be approximately $0.025.
On December 11, 2000, EIS issued a press release which is attached hereto as
Exhibit 99.
The matters discussed in this Report and information including expected revenues
and earnings contributions of these acquisitions are forward-looking statements.
The Company's current expectations, anticipated plans and estimates set forth in
these statements are dependent on numerous factors which may change, including
market conditions, unforeseen regulatory changes, changes in the labor market
and changes in the overall economy, any or all of which may affect revenues and
margins. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this Report.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99 - Press release dated December 11, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EXELON CORPORATION
/S/ Ruth Ann M. Gillis
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Principal Financial Officer
December 18, 2000
