agrees- for ITC to take 100% of fairway it would need to issue...

agrees- for ITC to take 100% of fairway it would need to issue hmm lets see a few billion shares!anyone here think Eddie want 3 billion shares on issue?

With far less shares on issue than ITC and share price 25 cents its far more realistic move for VPE to own the fairway by scrip.

On another note a bit of history -
BG took up 9.9% of QGC prior to taking it over, they did not go all the way to 19.9%

Given Ex QGC run VPE ,taking 10% equity is a strategy they know very well.