"The TMT board have a corporate duty to act in the best interest...

"The TMT board have a corporate duty to act in the best interest of their shareholders. "

Are you saying they didn't ? Surely they are more informed about the company then the average Joe Blow posting on HC , perhaps there are reasons the board could not disclose because it would have caused TMT's share price to collapse and that would have been against the best interest of shareholders.

Like Ian commented “it is very encouraging that TMT’s largest institutionalshareholders are supportive of the proposed merger with AVL. Similar to the TMT management team and Board,these shareholders recognise the significant benefits through the consolidation of these contiguous orebodies andtechnical teams. TMT and AVL believe the merger will help accelerate the development of the combined project tothe benefit of both sets of shareholders. "

If TMT shareholders want a cash payout they can do what you did and bail out. They can sell on the market then whinge about the merger on HC and post negative comments in the hope the TMT share price will collapse so they can get back in at a lower price.