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Report: Investor consortium offers PG&E $4B alternative to bankruptcy

Jan 29, 2019 - SNL Energy Finance Daily

A group of investors including activist management firm Elliott Management Corp. submitted a $4 billion funding proposal to keep PG&E Corp. and its utility, subsidiary Pacific Gas and Electric Co., out of bankruptcy, Bloomberg reported Jan. 28.

PG&E Corp.'s stock popped following the report, reaching over $13 per unit in midmorning trading after opening at $10.61, but that gain had narrowed by midday ET.

"We're not going to comment on market rumors," a PG&E Corp. spokesman said in an...