flaw in esg managemnt's argument re tru

When you think about it, there is a basic flaw in the argument by ESG when they say that the different offer to TRU is justified because:

1) the TRU Acquisition was an integral part of the negotiated position between ESG and Santos
and without it, it is unlikely Santos would have agreed to acquire ESG; and

2)the overall arrangement between ESG and Santos should be considered in its entirety.

The problem here is that we are being asked to approve the Scheme .. BEFORE we vote at a General Meeting on the acquisition of TRU's ESG shares by Santos. If what ESG management says is true then surely it should be the other way around and we should have the GM first to vote on the TRU share acquisition?? If the Scheme is approved but the TRU deal isn't then according to ESG Santos wouldn't want to takeoverr ESG. Frankly I don't believe that.

ESG management .. unbelieveable!

H