BS. AVL should do a capital raise and issue new shares for the purpose of acquiring TMT.
TMT should be offered a fixed dollar amount, they can then buy back into AVL with the proceeds if they want to continue.
Offering X shares which could go up down or sideways between now and close of deal, makes it difficult for TMT shareholders to assess their risk and make a decision.
Also TMT share price in the short term is now anchored to the performance of a 3rd party, which is not what I signed up for.
