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 semiconductor testing specialist Verigy
So what: The two companies have been slated to merge since Nov. 17, but much larger competitor Advantest
Now what: Verigy's share price now hovers slightly below Advantest's bid price, as if it were a done deal already. LTX-Credence is smaller than Verigy and doesn't have much to offer in a bidding war, but the company is appealing to Verigy's shareholders to go with the lower bid anyhow. A quick closing and lack of regulatory obstacles could still secure the deal for LTC-Credence, but it's one heckuva Hail Mary pass.
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Fool contributor Anders Bylund holds no position in any of the companies discussed here. 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 is investors writing for investors.