California Gov. Gavin Newsom on Friday dropped his opposition to PG&E Corp.’s plan to emerge from bankruptcy protection after striking a deal requiring certain concessions from the company. As part of the deal, PG&E has agreed to put itself up for sale if it can’t exit bankruptcy by June 30, a state-imposed deadline for its emergence if it wants to qualify for a state wildfire fund.

Source: Wall Street Journal March 20, 2020 21:54 UTC