(Bloomberg) — PG&E Corp. is nearing a deal with a group of creditors led by Pacific Investment Management Co. and Elliott Management Corp. that would entitle them to a mix of equity and new debt if they scrap their rival restructuring plan, people familiar with the matter said.The California power giant held discussions with the creditors ahead of a bankruptcy court hearing on Tuesday. PG&E lawyer Stephen Karotkin said during the brief hearing that the two parties were involved in “constructive negotiations.” A deal hasn’t yet been struck and the talks may still break off, people familiar with the situation …read more
Source:: Yahoo Finance
