M&A in lithium space?, page-2

Can someone help me understand what would happen to the $ value of your holdings if:

A. The company you own is bought out by another
B. Your company buys another

If you're able to use current lithium stocks as example SP's and Mcaps as I suspect the outcome has a lot to do with those numbers.
EG: if GMM purchased GXY today what would one expect to happen to $ holdings in each?

Cheers in advance, looking to learn