Utility giant Exelon Corp. cast doubt on its ability to complete its $16 billion takeover of Public Service Enterprise Group Inc., blaming regulators in PSEG’s home state of New Jersey for the uncertainty.

Chicago-based Exelon, in a filing made Tuesday, Aug. 29, with the Securities and Exchange Commission, said that 20 months after the purchase was first announced it remains committed to the acquisition. However, Exelon warned that the odds of the deal receiving regulatory approval are not good.

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