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.

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