I was in a stock about 10 years ago that was BO. I received the price per share for the buyout in my account as cash and was issued a number of shares of the purchasing company. The number of shares I received, if I remember correctly, we’re related to the amount of shares I had in the original company.

For example: $40 per share buyout (in cash) and each shareholder gets 1 stock of the purchasing company for every 10 shares of stock they own in the company being BO.