Cashflow,
I'm very surprised you don't know the answer to this question.
The answer is.. it depends on the merger/acquisition agreement.
Sometimes you'll get a commensurate amount of stock in the new company, as in the case of WTER, definitely not a 1 for 1. (coca cola is currently trading above $40./share)
It could be a buyout of existing shares at a set price agreed to buy the company/stockholders (generally favorable to the stock holders)
An acquisition usually boosts the price of the stock being acquired while slightly (or sometimes significantly) decreasing the stock price of the company performing the acquisition.
A hostile takeover would be indicated by inflated bids in order to accumulate the controlling stake in the company. *which you'd probably like to take advantage of :)*
If your shares are held by a broker you'll be notified and they will walk you through the process.
Google it.. lots of great answers out there.
-Pantz
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