Cadwalader, Wickersham & Taft LLP, a counselor to global financial institutions and corporations, advised Exelon Corporation, one of the nation’s leading competitive energy providers, on its agreement to purchase Integrys Energy Services, Inc. Integrys is a competitive retail electricity and natural gas subsidiary serving approximately 1.2 million commercial, industrial, public sector and residential customers across 22 Midwest, mid-Atlantic and Northeastern states, and the District of Columbia.

Exelon will pay $60 million for the Integrys retail operations, plus adjusted net working capital at the time of closing. Integrys Energy Services had adjusted working capital of approximately $183 million as of May 31, 2014. The transaction does not include certain of Integrys’ energy assets – primarily solar – which will remain a part of Integrys Energy Group, Inc.

The Cadwalader team was led by Robert Stephens, and included regulatory lawyers Greg Lawrence (FERC and antitrust) and Jonathan Kanter (antitrust); corporate lawyers Ira Schacter and Aly El Hamamsy; and associate Christine McMillan.