job title changes on your resume

So let say your job title is a director in company A. Now company A is acquired by company B, and your new title is a manager. From a job search/recruiter perspective, which looks better?

1)

manager in company B, Jan 2013 to present
....
director in company A, Jan 2012 to Dec 2012
....


2)

manager in company B (formerly company A), Jan 2012 to present