alternative proposals thoughts written down

IMO think their should have been an alternative proposal from boths sides. The one proposed now is the aggregation of CNP and CER into CPA due to,

The cross ownership of Assets
uncertainty of debt rollover(other options to remove this)

I was thinking
1: CNP roll all debt into equity
2: All Asset debt levels are to be renewed
3: CER offer shares for CNP Shares
4: CER constitution changes and reduces shares on issue
5: All holders of the larger CER entity are offered a renouncable rights issue, to increase cash reduce debt. Also offers holders to increase there stake or sell off if not marketable parcel
6: relists as CPA


Benefits
CER controls the CNP's future
CPA doesn't end up paying $200 Million for the Management rights.

Not sure on the legalities, as CER is a trust ?