from the article:
These valuable “assets” will not be extinguished as a result of Sear’s bankruptcy but, instead, will be inherited, for potential future use, by the purchaser of Sears’s assets, ESL Investments Inc.
these assets were purchased by lampert's company, transform holdco. they are no longer with shc/shldq. lampert does not need to "reverse merge" to obtain their benefits. he already has them.