Running Commentary on the SP Movements., page-3217

Takeovers can happen in many different ways which is why you won't get a definitive answer. Some will offer a set price that you can either accept or reject (unless the acquirer gets more than 90% of shares and moves to a compulsory acquisition) or they could offer a combination of shares and stock. Sometimes there is a scheme of arrangement which shareholders vote on and if approved by enough holders, then the acquirer goes straight to full acquisition. Other times, companies will sell a project and have a stack of cash which they can either return to shareholders or use for another acquisition. Probably other options which I've overlooked at the moment. Best to wait until there's a deal on the table and you can read the details and make any decisions required then. Until that happens, it's just an expectation and not defined and not a certainty.