When a firm acquires another entity, there usually is a predictable short-term effect on the stock price of both companies. In general, the acquiring company's stock will fall while the target company's stock will rise.
Is there any special case that the opposite would be true?
[JP Morgan’s Harlan Sur has an outperform rating on Micron] driven by growing optimism around an improving operating environment, a cheap relative valuation, and speculation M&A could pick-up in the semi space following the break-up of the [Qualcomm]/[Broadcom] deal,” referring to speculation by some that Broadcom could go after Micron since its hostile bid for Qualcomm was scuttled.
What aspects of an Acquisition deals must be taken into account to predict the Markets' reaction.
Note: Again, I'm only asking about the immediate short term (acquisition signing to 6 months after).