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Shares Canceled after Merger
It seems like this was a "stock for stock" transaction. That is, your company was acquired, not for cash, but for the stock of Company X in a deal that your company's board of directors "signed off" on.  Your company no longer exists, and that's why your stock was cancelled. The acquirer will be sending you an equivalent amount of stock in their Company, X. You don't need to worry about taxes, only accounting, because this is a "non-cash" transaction. What this means that your cost basis in the stock of Company X will be what you paid for the original company's stock (not its value on the day of the merger, which may be higher or lower than what you paid).