fw : pg & e settlement offer - - - - - original message - - - - -
from : tribolet , michael
sent : friday , november 16 , 2001 3 : 30 pm
to : buy , rick
subject : pg & e settlement offer
below are the proposed discounts we discussed with ken lay this afternoon :
usd millions :
cash from 85 p + l with 85 cent
discount cent sale of claim sale of claim
enron $ 85 . 0 ( 17 % ) $ 361 . 8 + $ 129 . 1
pg & e $ 237 . 0 ( 46 % ) $ 232 . 6 - $ 0 . 1
midpoint $ 161 . 0 ( 32 % ) $ 297 . 2 + $ 64 . 5
if the midpoint ( value between pg & e and enron settlement offers ) is acceptable from a liquidity and p + l standpoint , propose countering at a discount of $ 123 million ( move half way to midpoint ) to provoke a counter offer . intent is to settle at midpoint discount of $ 161 million . the excel file is attached .