tsp,
what company do you think is going private?
transform holdco is already private. as an shldq shareholder i didn't get any compensation and nobody else did either.
transform holdco doesn't have to do anything to go private, they already are private.
shldq is not a company, it is a stock symbol representing a share of ownership in sears holding corporation and everything which sears holdings corporation owns.
unfortunately for shldq shareholders, sears holdings corporation no longer holds much of anything since they sold substantially all of their assets to transform holdco.
shc and all of the other debtor companies under the umbrella of shc are in bankruptcy. i see three options for them (which also means shldq shareholders): (i) they are declared administratively insolvent and converted to a chapter 7 case with a trustee appointed to liquidate them, (ii) they are dismissed from bankruptcy and then have to fight things out in court without the protection of bankruptcy, and (iii) they have some way forward and file a plan of reorganization which needs to be voted on and subsequently approved by the bankruptcy court.
now, explain why sch and the other debtors agreed with transform holdco (i believe it's in section 9.2 of the apa) that shc would liquidate withing three years of the closing date.
seems to me like there is a built in kill date for the demise of shc.
that's not spinning, those are the facts (look at the apa) and if you have any other options than the three i have stated above, put them forward.
for me, it boils down to what happens with the nols. can eddie get a tax opinion and irs private letter ruling or not?
if this double posts, i'm maxed out for the day.
