QCOR - Cashed in my chips, should I rebuy and hold through the merger?

Edited:

I first learned about QCOR when I was looking at the 13/F filings of some health-care focused hedge funds. I read the latest 10-k and 10-q and began doing my research on the company. This was in early August 2012 and the stock was trading in the mid-50s.

Just as I was starting to get a pretty good understanding of the market and the economics of the business, the stock tanked in late-Sept 2012 due to the health insurer Aetna announcing that it was going to limit reimbursements for the company's flagship drug product and also because of a pending government investigation into the promotional practices of the company.

Although I wish I could have done more research, particularly in the company's marketing/promotional practices, I felt I had enough information to make my play. The stock was at around $28 to $30 when I applied to my bank's compliance to get pre-clearance approval. By the time I was able to initiate the trade with my broker, the stock was trading below $20. I got in at $18, essentially catching the stock at the bottom.

Fast forward a year and a half to this morning. I get into the office and before things start getting hectic at work I see the headline that the company is being acquired by Mallinckrodt for $5.6 billion. Pre-market activity shows the stock is up 30%. As soon as I saw the announcement I thought the timing was perfect and I immediately went to my broker and sold everything.

To summarize, I had bought shares back in Sept 2012 at around $18. I sold everything today at $85. So I netted a pretty good gain and was very feeling good about myself. Now I am starting to have some thoughts about rebuying and holding on through the merger.

I am treating this as a learning experience so any advice/words of wisdom you could offer up would be greatly appreciated.