ESL will be receiving new Transform Holdco Common Shares for its $ 1.3 B Credit Bid - if the 363 Sale is approved - and so I don’t think it will care about its SHLDQ Common Shares if this happens.
New Transform Holdco Common Shares will be worth much more than any new SHLDQ shares.
On the other hand, Mr. Lampert may care more about what happens to his SHLDQ common shares.
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