I have 2 Ponytail Palms that was about 6' tall. This past Winter here in Houston, TX, we had a 2 day freeze.. I thought they were fine until a month later when the fronds started turning yellow & falling off.. By the 2nd month, I noticed there was a 4-5" soft spot just 1' from the bottom of the fronds.. I eventually had to cut it off.. Now there are new baby shoots coming out all around where I cut it off, plus about 25 or so shoots all over the trunk.. What should I do? The other Palm that was right next to it is just fine!!
If the bulbs is soft and rotting there is little to be done. It's tough to lose a plant.
I would however remove and propagate the pups.