Yeah they are all different, depends on the scheme, you may be offered cash, cash & shares, and you will generally have the option to accept or reject, the offer will be conditional subject to enough shares being acquired. If they acquire enough of the company, you might have to sell your shares.
A billion valuation would be in the realm of 40c/share.
SYT Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held