Shareholders to British rail company, Railtrack, are to receive between 245p and 255p (sterling) per share in the deal with Network Rail.
But they will have to wait until about January, 2003, for the first instalment - of around £1.60-£1.80 (sterling).
If they do not want to wait, they will have to take their chances on selling on the stock market when trading in Railtrack shares reopens today.
The share offer has come about from a deal involving not-for-profit company Network Rail, which is buying Railtrack PLC out of administration for £500 million (sterling).
Railtrack shares, which were once as high as £17 (sterling), were suspended at 280p when former British Transport Secretary Mr Stephen Byers forced Railtrack PLC into administration last October.
Today's deal also involved the London & Continental Railways company paying £295 million (sterling) for the first phase of the Railtrack-owned Channel Tunnel high-speed rail link, with Network Rail paying £80 million (sterling) to operate and maintain the link.
After days of delay, the deal was finally announced this morning by Railtrack Group, which is not in administration.
PA