asx announcement worth reading

Today's announcement for OIF must be very disappointing for unitholders. The deal cuts NTA from 55 cents to 24 cents while reducing gearing from 66% to 44%. I don't think the long term unitholder would be that happy with this effective takeover.
Worth the time to read this announcement to see how RE can react to high gearing levels. Just another way of dilution of existing shareholders.
The other method RE have used to destroy shareholder wealth has been the GPT method of repeating making new issues at heavy discounts to NTA.
Are unitholders being given a fair go?
Regards
Buffett