$JCP Contrary to certain comments received since the status conference, please be aware that this representation does not refer to a $300 million payout to old equity. Rather, this means that Simon and Brookfield are paying $300 million for new equity in the reorganized JC Penney entity. Based upon the limited description of the deal terms announced today, the proceeds of this transaction are not expected to provide any return to existing equity interest holders. Until we see the Letter of Intent, however, we cannot be sure what effect the proposed deal would have on the value of existing shar
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