If a PE firm bought it, you will probably be cashed out. In a normal acquisition by another operating company, you'd either be told what you are receiving, or you would be given a choice (sometimes you would get x number of shares in the acquiring company, sometimes x shares plus $y cash, sometimes all cash); it would also depend on how the merger was approved (if the company is large and publicly-owned, typically the acquisition would be presented to the shareholders; if smaller and there is a majority owner, you might only be told after the fact, so you wouldn't know until told what happened and what you will receive).