PG&E turns down San Francisco's $2.5 billion offer to buy assets

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PG&E turns down San Francisco's $2.5 billion offer to buy assets
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PG&E Corp rejected a $2.5 billion offer from San Francisco to buy the bankrupt C...

FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage

San Francisco’s offer significantly undervalued its assets and a deal wouldn’t be in the best interest of its customers, PG&E Chief Executive Officer Bill Johnson wrote in a letter, dated October 7, to San Francisco Mayor London Breed.

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