From my experience, what occurs during a talent acquisition depends on what your product is and how you will be integrated to the larger company. No integration means a good payout, plus a legacy-free transition into the new company. Then you just have the usual things of culture change, having a boss again, etc. If you were passionate about your product this may be hard (see Dodgeball).

If there's any sort of technical part of the acquisition, depending on the type of technology it can be pretty rough. I was part of a team that was acquired for talent and technology, and as such we needed to integrate our search engine from Trovix to Monster.com. It was interesting, but not fun.