Regional Reit Takeover Rumours (RGL)

I would be interested to know if Edison still stick to their assertion that if there was an equity raise the share price would rise. Fat chance. This does smack of deliberately trashing the share price in order to allow a known investor to takeover on the cheap. A new 5 year bond at 15% coupon would be a lot simpler, but doesn't solve the debt/equity limit. So convertible shares/bond hybrid deal? The coupon should be lower and the equity base would be higher. Combine this with a decent level of asset sales and we might stay in business.