Exelon sues FirstEnergy Solutions over delays on $140M asset sale [Seeking Alpha]
FirstEnergy Corp. (FE)
Last firstenergy corp. earnings: 4/23 04:20 pm
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Source: Seeking Alpha
Exelon (NYSE: EXC ) has filed a lawsuit against FirstEnergy Solutions (NYSE: FE ), alleging the bankrupt power generation business has stalled on closing a $140M deal in which EXC would buy and honor the terms of the FES customer contracts. A Pennsylvania-based EXC subsidiary entered an agreement in July to acquire the contracts, under which consumers and businesses have long-term arrangements to buy electricity. The agreement between EXC and FES allows either side to back out if, through nobody’s fault, the sale does not occur by Dec. 31; EXC is now asking the U.S. bankruptcy court in Ohio to intervene and prevent FES from declaring the contract void after year-end. Since last summer, FES has petitioned the court five times to postpone a final hearing to approve the sale; EXC says it did not agree to any of the postponements, according to court filings. Click to subscribe to real-time analytics on EXC Now read: Brookfield Renewable Provides Stability
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News
- FirstEnergy Set to Plant More Than 25,000 Trees in 2024 [Yahoo! Finance]Yahoo! Finance
- FirstEnergy Set to Plant More Than 25,000 Trees in 2024PR Newswire
- FirstEnergy Corp. (NYSE: FE) had its price target raised by analysts at Bank of America Co. from $30.00 to $35.00. They now have an "underperform" rating on the stock.MarketBeat
- What's in the Cards for FirstEnergy (FE) This Earnings Season? [Yahoo! Finance]Yahoo! Finance
- FirstEnergy Corp. (NYSE: FE) had its price target lowered by analysts at Scotiabank from $41.00 to $40.00. They now have a "sector perform" rating on the stock.MarketBeat
FE
Earnings
- 2/8/24 - Beat
FE
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- FE's page on the SEC website