What will happen to Tullow Oil Shares

NewEdition

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I have some Tullow Oil shares.
They have jumped in the last couple of days, due to a potential takeover, although still not to the level I purchased at.

What usually happens in cases where companies are taken over?

Will my shares get transferred to the company that buys them?
Or will I be forced to sell?
Will I win or lose in this situation?

Basically, I have a number of shares, I invested about 10K in Tullow.
Its now worth about 9k at yesterdays price.
Will that 9k (or whatever the value is at takeover, should it happen) be transferred to 9k worth of teh purchasing company's shares?
 
In these cases, the acquiring company usually pays cash. So they will buy your shares and you will no longer own them.

Occasionally, they will buy your shares with their shares. Of course, you can then sell their shares if you want the cash.

For their takeover to be successful, a majority of shareholders must vote to accept it.
 
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