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 Harbin Electric (Nasdaq: HRBN) surged more than 11% in early trading after the company set a date for a shareholder vote on a proposed acquisition.

So what: The proposal, to take Harbin private for $24 a share, comes from a group led by Chairman Tianfu Yang and has been the subject of much bearish scrutiny. For months the stock lingered below $20 a share as investors held their collective breath, skeptical that a deal could get done.

Now what: Today most of those fears appear to have been alleviated. Shareholders of record as of Sept. 13 will vote on Yang's proposal on Oct. 29. Will they approve the transaction? Would you buy shares and play for the $24 takeout price? Please weigh in using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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