Ann: USD120M Offer to Acquire 25% Interest in Malaysian Entities, page-103

I'd prefer that OMH pays the CMSB 25% acquisition with cash in the bank, plus whatever bank borrowings are necessary rather than a rights issue. The share price discount for a rights issue would be crippling for such an illiquid stock such as OMH. If the right issue price isn't set low enough then few shareholders would participate, the stock then becomes at the mercy of shorters. Recently another stock that I hold (AIS) had a rights issue and only 5% was taken up, it was an utter disaster and the stock was massively shorted and hasn't recovered. I didn't participate as the writing was on the wall, I think OMH would be in a similar situation.
Bank borrowings can easily repaid in a year or so just using that extra 25% that OMH has acquired. A rights issue would another 100 million shares and would mean less dividend/share into the future.