educate a newbie on t/o mo

Hi,

Can someone dumb down how takeovers go down for me please ?

Let's just say Africa Oil / Total / Chevron / whoever wanted to buy Swala and all the figures below are just for example only

Right now we are at 23c give or take.

If the TO party offered $1 per share to all existing shareholders, we would vote on it and then if accepted we get $1 per share or make 77%. Do we then lose those shares in accepting the $1 offer ? Or do we hang on to the shares and simply see our scrip value increase ?

Would we also get shares in the TO company ?

Any info welcome.

thanks