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I was thinking of adding these to my tool inventory
I bought a set of them from a Sears Hardware store a number of years back when I used to do work on my now-deceased Ford Probe. Saved me a number of times in this same situation.
welding a nut is the best idea. second would be that extractor kit mentioned above. i have and have used that set before. works well, but if the steel is to soft it will just carve it up.
It looks like you have enough stud there to put two nuts on it and tighten to each other, then turn the one closest to the case. Some locktite fixing compound on the two nuts and about 15 minutes for it to set up would help also. The old school method (but on cast iron parts) was to heat up the bolt, then apply a small candle. Capillary action was supposed to suck the wax into the tiny voids and then it was alleged to turn out easily
After soaking it over night I took another run at it with vice grips after I knocked it on the bent side and I was able to coax it out. The Sears tool was not effective.