The European Union’s European Commission on Monday approved the $4.7 billion merger deal between Baltimore-based Constellation Energy Group and MidAmerican Energy Holdings Co.

The $26.50-a-share deal still requires approval from U.S. regulators including the Maryland Public Service Commission as well as a successful shareholder vote, which Constellation has said could occur as soon as next month. Iowa-based MidAmerican needed EU approval for the merger due to its utility holdings in the United Kingdom, according to media reports.

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