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January 2012 Archives

Merger between Exelon, Constellation one step closer to finalization

A proposed merger between Exelon Corporation and a Maryland company, Constellation Energy Group has overcome another hurdle after reaching an agreement with Electricite de France SA. Also known as EDF, Electricite de France SA is a minority partner of Constellation, cooperatively owning and operating five nuclear reactors across the United States. EDF initially opposed the merger between Exelon and Constellation, stating that the deal could threaten "the integrity of its investment" in the Maryland-based Constellation.

Maryland banks to merge, pending approval by shareholders

Sandy Springs Bancorp, the largest bank based in Maryland, has announced plans to purchase CommerceFirst, a company also based in Maryland. While CommerceFirst is significantly smaller than Sandy Springs, it is well-known for offering commercial loans to small businesses, all of which are guaranteed by the U.S. Small Business Administration (SBA). Under the SBA's loan program, the bank was among Maryland's most active between 2010 and 2011.

Car dealership will pay $56,000 for wrongful termination

A large car dealership has agreed to pay a former employee a sum of $56,000 as well as "significant injunctive relief" for firing the disabled worker unlawfully. According to the three-year consent decree that settled the wrongful termination lawsuit, the dealership must also refrain from discriminating and retaliating against employees in the future. The company must also implement procedures aimed at accommodating its employees' disabilities.

Maryland company sues Amazon for corporate bullying

A small Maryland firm has filed a lawsuit against The online retail giant is accused of unfair competition, false advertising, patent infringement and commercial defamation. The Maryland company, which makes accessories for Amazon's Kindle e-reader, says that Amazon attempted to extort $6.5 million from the fledgling business by threatening to delist its products and make them more difficult to find.

Blackwater Maryland to acquire storage terminal facility

In a recent announcement, Blackwater Maryland L.L.C. said that it has finalized it plans to acquire a storage terminal facility located in Salisbury, Maryland and expects to close the deal by the end of December. The purchase, which was financed completely by the senior lender for Blackwater Maryland's parent company, Blackwater Midstream Corp, will cost about $1.6 million.

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