I understand what happens to the shares of a company when the company is bought. What is not clear to me is if I own those shares through my account in a brokerage firm (e.g. Vanguard, Schwab, eTrade), how does the brokerage firm handle those shares ?
Especially for "All Cash Deal" or "Mixed Cash/Share Deal": does the brokerage firm automatically convert my shares (or part of them) to their cash value and transfer cash to my "cash account" with the brokerage firm ? Does the firm charge the transaction fees ?