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Two part question: Suppose Wal-Mart bonds have no covenants. How would Wal-Mart bondholders be hurt if Walmart unexpectedly merges with Ameristar Casino Inc.? f Wal-Marts

Two part question:

Suppose Wal-Mart bonds have no covenants. How would Wal-Mart bondholders be hurt if Walmart unexpectedly merges with Ameristar Casino Inc.?

f Wal-Marts bonds were convertible into stock, how would the bondholders be able to benefit from the merger with Ameristar Casino Inc.?

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