Thats true, but Amazon isnt going to open the bidding with a bid that high. NO need for them to bid against themeselves at this point.
Amazon should stop dickin around and just offer a share exchange, and assume the JCPNQ debt to keep the creditors from filing objections. Remember, at this point, ALL THIS has to go thru Jones, unless the bankruptcy is dismissed.
Amazon should offer 1 AMZN share per 1000 JCPNQ. Everyone gets a nice payout, creditors STFU and go away, Amazon gets all the real estate (which is what they want). Easier said than done of course.