FirstEnergy Corp. has raised $2.5 billion in a private stock offering from a group led by activist investor Elliott Management Corp. and private-equity firm Bluescape, the Ohio-based utility said Monday. The unexpected investment comes at a turbulent time for FirstEnergy. Its unregulated wholesale power subsidiary has been struggling to compete amid low prices and has been widely expected to seek bankruptcy protection in coming months.

Source: Wall Street Journal January 22, 2018 20:03 UTC