Would it be cynical to think that the purpose for the capital...

Would it be cynical to think that the purpose for the capital raising is for institution shareholders involved with pipe networks that are not getting script with the takeover, get shares in tpg as a sweetner for their vote in the MIA to go through.

TPG is basically debt free now and can pay off the debt from the merger within 3-4 years with the free cash flow currently being generated, so it makes no sense having a capital raising.