You get a CVR, like an option at the closing so you need to hold the stock until deal closes to get the CVR. CVRs can be either non-transferrable or traded on a stock exchange.
CVR is Contingent Value Right -- it means that if they get bought out, you get the buyout price PLUS these ongoing "rights" that pay additional amounts if certain things are achieved.
Like for instance a really simple one could be:
- Buyout price of $40 plus a CVR of $10 if Vascepa is approved for the REDUCE-IT population in Europe
Then if, post-buyout, the buyer of AMRN gets Vascepa approved in Europe, all shareholders of record on the buyout date get another $10 per share.