CommSec is a broker - if you give them a call they will talk to...

CommSec is a broker - if you give them a call they will talk to you about this type of thing. I would expect them to say they can't really tell you anything until there is an actual takeover offer though because they vary widely. There are a few options when a takeover occurs. You might get a shareholding in the parent company as compensation, you might get cash, if you got cash it would likely be deposited into your brokerage account, if you got shares, it would either turn up in your brokerage account, or be registered in your name if your broker doesn't handle whatever exchange it's listed on. Generally any takeover bid will have a timeline, and you would have the opportunity to sell your shares on market at a slight discount to whatever the bid is if you don't want to deal with it.