Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of U.S. construction equipment parts maker Cascade (UNKNOWN:CASC.DL) soared 18% today after Japanese counterpart Toyota Industries, a sister company of automaker Toyota Motor (NYSE:TM), offered to buy it  for $759 million.

So what: The all-cash deal values Cascade at $65 per share and represents an 18% premium to its Friday closing price. Slowing demand from China and volatile currency movements have pressured Cascade's earnings in recent quarters, but it's obvious that Toyota is taking advantage of the weakness to expand its lift truck business globally.

Now what: The deal is expected to close by the end of year, at which point Cascade President and Chief Executive Robert Warren Jr. will continue head up operations. "Our company has concluded that the offer being made by Toyota Industries Corporation, one of the world's most admired companies, represents an ideal combination of attractive return to our shareholders, continuing service to our customers, and stability and opportunity for our employees," Warren said . Of course, with Cascade shares now all popped out, Fools might want to look into close rival Nacco Industries (NYSE:NC) as the next bargain opportunity in the space.

Interested in more info on Cascade? Add it to your watchlist.

Fool contributor Brian Pacampara and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.