Can you explain (cfc stock)?

Question

my brother bought cfc stock for $4.47 and now the company is sold to bac. can you explain where those money goes will he get them back

Answer 1

when a company is bought out by another company they will give you x number of shares of the new company for x number of shares of the old company. he isn't going to lose his money unless the company totally went under.

Answer 2

"The Deal

Under terms of the acquisition agreement, Countrywide holders would receive .1822 of a share of Bank of America stock in exchange for each Countrywide share."