Ive never been involved in a company that has been in a takeover...

Ive never been involved in a company that has been in a takeover bid before can anybody help me to understand how it all works. If the company is taken over by accor what will happen to my holdings? Do i need to sell out to them or will the company still keep trading on the asx as mantra? What is the final date for this takeover to be finalised? I understand we are all hoping for another bidder to come in to push the price higher. If anybody can make this clearer for me i would much appreciate it.