Company acquisition questions

when a larger company acquires a branch of another company like a site they have, which stock usually goes up? the company buying or the company who’s site is being acquired?

I was just wondering because is it both companies that go up, or usually the acquiring goes down because they’ve just spent a lot of money acquiring, or is it that because they’ve acquired an asset they go up in price? or does the one being bought go up because it’s value now increases after being bought by a larger company?

also will either stock lose value from acquisition?

thanks