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 Interline Brands (NYSE: IBI) rose 40% today after the company said it was being bought out by two private equity firms.

So what: GS Capital Partners LP, the private equity arm of Goldman Sachs (NYSE: GS), and P2 Capital Partners are combining to take Interline private for $25.50 per share. The deal will be financed by $928 million in loans from Goldman and Bank of America (NYSE: BAC), $369.3 million in equity from GS Capital, $6.4 million of new capital from P2 Capital, and 927,000 shares from P2 Capital.

Now what: For current shareholders the only question is whether or not to hang on for a sweeter offer or sell out now. The market has pushed shares near the offer price, maybe thinking the offer may be sweetened, but I think taking some or all chips off the table now is the best move. This eliminates the risk that the deal will fall through and locks in profits after today's jump. In either case, it's a great deal for Interline investors who can now sell out at a new high.

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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.