With how wearily often this seems to happen nowadays, I feel like if I was working somewhere like this I'd be looking at new work immediately as soon as I knew it was getting taken over.
Ideally, there should be some kind of way to prevent this happening in the first place.
But it's easy for me to say this kind of thing from my pedestal. The only opinions that matter are from those who are involved. There's nothing more depressing and scary than to know you could be jobless at a moment's notice.