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 solar-inverter maker Power-One (NASDAQ:PWER.DL) jumped 56% today after getting a buyout offer from ABB (NYSE:ABB).

So what: ABB has offered $6.35 per share for Power-One for a total price tag of about $1 billion. The deal prices the company at able 10 times EBITDA, and ABB says it will be able to realize some synergies from folding Power-One into its existing businesses.  

Now what: Shares of Power-One traded higher than the buyout offer at times today, indicating that investors are expecting a higher offer. There could be another offer, but I'd take some gains off the table because a bidding war isn't likely to erupt for the company. Large inverter competitors either have their own businesses to rely on or aren't going to be willing to spend more than $1 billion to buy a solar-inverter manufacturer. Still, it's a huge day for those patiently waiting for Power-One to pop.

Interested in more info on Power-One? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool owns shares of Power-One. 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.