回复@2分之1自旋: debt is for bankruptcy process, equity is for now, any deals now before any possible bankruptcy, he needs more control to go thru, lots deals. there were lots hedge funds following him before in the name. everyone's entry price and target price are different. well, i think, if debt is cheaper, use debt to get control. if equity cheaper, use equity. you dont wnat to lose your controla nd the asset to others after working on it for so long.//@2分之1自旋:回复@westendave71:如果破产重组时法庭估值小于债权，股东投票也只是象征性的。股东就算不满意，其他债权人也可以强制cramp down。sears严格说有130-140亿债权，一旦重组，是轮不到股东说话的。