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: Dionex (Nasdaq: DNEX) shares jumped 20% today after it was announced that the company would be purchased by Thermo Fisher Scientific (NYSE: TMO).

So what: Merger Monday was back in force today, and this $2.1 billion cash deal will give Thermo Fisher access to environmental analysis, and food and water testing markets. The offer is for $118.50 per share, and Dionex has already almost reached that share price in trading today.

Now what: Usually, mergers will see the acquiring company's shares fall, but Thermo Fisher shares are up 4% today, indicating the market is loving this deal. There may not be much upside left for Dionex, but Thermo Fisher shares look to be priced right with a 13.7 forward price/earnings ratio before this acquisition. Given the positive market reaction today, I think this Motley Fool Inside Value pick has more room to run.

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

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

Thermo Fisher Scientific is a Motley Fool Inside Value pick. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.