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 electricity generator UNS Energy (UNS +0.00%) jumped 28% today after the company agreed to be acquired by Fortis.
So what: Canada's largest investor-owned gas and electric utility will pay $60.25 per share in cash to acquire UNS Energy. The transaction will require the approval of shareholders and regulators and probably won't be completed until the second half of next year. Â
Now what: For UNS Energy shareholders, there's not a lot of upside to hanging onto the stock now. It may be a year before the deal closes and there's only about $1.75 per share in upside at the current offer price. By selling now you take a nice gain and avoid any snags to the deal. That's what I would do if I owned shares.
