---
updatedAt: 2026-08-14T20:03:47.000Z
agentTools:
  projectIndex: https://docs.dinari.com/llms.txt
---

# Mergers

How Dinari handles cash, stock, and mixed-consideration mergers affecting dShares

# Mergers

A merger combines multiple companies. For target holders, the key question is what asset they receive at closing. This payout (cash, stock, or a mix) maps directly to Dinari's event classifications.

***

## The three consideration types

The consideration, cash, acquirer stock, or a mix, is fixed by the deal terms, and it maps directly onto Dinari's classification:

| Consideration  | What a holder receives                                                            |
| :------------- | :-------------------------------------------------------------------------------- |
| Cash only      | A fixed cash amount per share. The target's shares are extinguished and delisted. |
| Stock only     | Acquirer shares at a fixed exchange ratio, preserving market exposure.            |
| Cash and stock | A combination of partial liquidity plus continued equity participation.           |

***

## Which structure applies

```mermaid
flowchart TD
    A["Merger announced"] --> B{"Consideration?"}
 
    B -->|"Cash only"| C["cash_merger"]
    B -->|"Acquirer stock only"| D["stock_merger"]
    B -->|"Cash and stock"| E["stock_and_cash_merger"]
 
    C --> F{"Does Dinari<br/>hold this asset?"}
    D --> F
    E --> F
 
    F -->|"No"| G["No action.<br/>No partner impact."]
    F -->|"Yes"| H["Manual triage.<br/>Dinari contacts you directly."]
```

***

## What that means in practice

Rely on direct communication from Dinari, not the API, to confirm event outcomes, timing, and settlement assets.

***What you can rely on:***

* Dinari detects merger announcements and checks whether it holds the affected asset.

* When a held asset is affected, Dinari will coordinates the resolution and notify you.

* Position and cash changes are observable once resolved.

***What you should not assume:***

* That a merger produces an event object you can poll for.

* That a stock-for-stock merger automatically produces an acquirer dShare.

* That timing matches the deal's closing date to the hour.

***

## Recommendations for Managing Mergers Programmatically

1. **Watch for unexplained position removals.** There is no merger event endpoint, so a position disappearing from the portfolio is your programmatic signal — and your partner channel is the primary notification path.
2. **Snapshot positions before a known effective date.** A before/after diff is the only reliable reconciliation method available.
3. **Reconcile both positions and cash.** A cash merger settles as a cash entitlement; the portfolio alone shows a position vanishing with nothing in its place.

<Callout icon="ℹ️" theme="warn">
  #### Note: There is no dedicated merger endpoint or SDK method. You detect a merger's effects by reconciling holdings and cash across the effective date.
</Callout>