Merger Arbitrage Spreads for Feb 8, 2010

Name	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Vol	3 Month Vol	Date Announced
AFFILIATED COMP S	ACS	XEROX CP	XRX	$59.64	-2.28%	$60.40	0.76	1.27%	5,494,456	1,183,470	9/28/2009
ALLIED DEFENSE GR	ADG	Chemring Group	London	$7.17	0.00%	$7.25	0.08	1.12%	28,171	79,929	1/18/2010
Airvana Inc.	AIRV	72 Mobile Holdings	Private	$7.56	0.00%	$7.65	0.09	1.19%	481,428	551,422	12/18/2009
ALLIED CAP CORP	ALD	Ares Capital Corp	ARCC	$3.83	0.26%	$3.91	0.08	2.00%	3,566,501	2,188,040	10/26/2009
AMICAS Inc.	AMCS	Thoma Bravo, LLC	Private	$5.38	0.56%	$5.35	-0.03	-0.56%	1,017,918	379,292	12/24/2009
Bare Escentuals	BARE	Shiseido Co	--	$18.16	0.33%	$18.20	0.04	0.22%	4,445,153	3,341,610	1/15/2010
BLACK DECKER CP	BDK	STANLEY WORKS THE	SWK	$68.88	-0.17%	$69.40	0.52	0.75%	1,030,124	1,080,500	11/2/2009
BioForm Medical	BFRM	Merz Pharma Group	Private	$5.44	-0.18%	$5.45	0.01	0.18%	133,860	384,765	12/31/2009
BJ SERVICES CO	BJS	BAKER HUGHES INTL	BHI	$20.47	-1.02%	$20.60	0.13	0.62%	10,239,711	4,831,810	8/31/2009
BURLINGTN N SANTE	BNI	BERKSHIRE HATH HL	BRK-A	$99.72	0.29%	$100.23	0.51	0.51%	15,026,525	5,272,940	11/3/2009
BPW ACQUISITION C	BPW	TALBOTS INC	TLB	$10.18	-0.20%	$11.25	1.07	10.51%	346,045	920,186	12/8/2009
CF IND HLDGS INC	CF	AGRIUM INC.	AGU	$94.22	0.69%	$103.93	9.71	10.31%	847,355	1,552,370	2/25/2009
BRINK'S HOME SECU	CFL	TYCO INTL LTD SW	TYC	$40.95	-0.17%	$42.50	1.55	3.79%	873,399	918,365	1/19/2010
Chattem Inc.	CHTT	SANOFI-AVENTIS SA	SNY	$93.42	-0.01%	$93.50	0.08	0.09%	672,622	604,886	12/21/2009
COMSYS IT Partner	CITP	MANPOWER INC	MAN	$17.47	0.11%	$17.65	0.18	1.03%	474,364	357,579	2/2/2010
3Com Corporation	COMS	HEWLETT PACKARD C	HPQ	$7.48	0.27%	$7.90	0.42	5.61%	11,063,838	17,664,300	11/12/2009
CARE INVESTMENT T	CRE	Liquidation		$8.18	0.25%	$8.00	-0.18	-2.20%	66,484	182,303	12/11/2009
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.60	-0.14%	$35.00	0.40	1.16%	32,298	156,579	11/25/2009
ENCORE ACQUISITIO	EAC	DENBURY RES INC (	DNR	$48.65	-0.29%	$50.00	1.35	2.77%	1,359,887	1,005,820	11/2/2009
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$9.86	2.71%	$11.47	1.61	16.28%	16,500	23,330	12/28/2009
FRANKLIN ELECTR P	FEP	Saunder Acquisition	Private	$2.48	0.00%	$2.50	0.02	0.81%	300	4,735	6/1/2009
FGX International	FGXI	Essilor		$19.73	0.15%	$19.75	0.02	0.10%	131,536	511,241	12/16/2009
FINANCIAL FED CP	FIF	People's United F	PBCT	$26.47	0.65%	$26.62	0.15	0.57%	1,209,158	459,676	11/23/2009
HEALTH FITNESS CO	FIT	Trustmark Mutual Holding Company	Private	$8.77	-0.11%	$8.78	0.01	0.11%	73,476	223,657	1/21/2010
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$11.75	0.77%	$13.21	1.46	12.42%	15,600	6,114	11/3/2009
FIRST LITCHFIELD	FLFL.OB	Union Savings Bank	Private	$14.56	0.00%	$15.00	0.44	3.02%	0	1,102	10/26/2009
FortuNet Inc.	FNET	Yuri Gaming Trust		$2.24	0.45%	$2.25	0.01	0.45%	32,929	42,821	11/23/2009
Republic First Ba	FRBK	Metro Bancorp In	METR	$4.15	-0.24%	$4.56	0.41	9.79%	11,788	26,189	11/10/2008
CEDAR FAIR LP	FUN	Siddur Holdings	Private	$11.84	-0.59%	$11.50	-0.34	-2.87%	592,476	751,598	12/16/2009
GLOBAL MED TECH I	GLOB.OB	HAEMONETICS CP	HAE	$1.20	-0.33%	$1.22	0.02	2.01%	1,292,545	107,936	2/1/2010
GENESIS LEASE LIM	GLS	AERCAP HOLDINGS N	AER	$7.84	-3.80%	$7.90	0.06	0.77%	197,073	164,402	9/18/2009
HALIFAX CP	HALX.PK	Global Equity Capital, LLC	Private	$1.18	0.00%	$1.20	0.02	1.69%	4,800	0	1/7/2010
HIGHBURY FINANCL	HBRF.OB	AFFILIATED MGRS G	AMG	$5.36	-0.74%	$6.15	0.79	14.72%	45,700	0	12/14/2009
Home Diagnostics	HDIX	Nipro Corp	--	$11.45	0.09%	$11.50	0.05	0.44%	506,844	281,467	2/3/2010
Harleysville Nati	HNBC	First Niagara Fin	FNFG	$6.21	1.14%	$6.29	0.08	1.29%	647,323	226,108	7/27/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$7.72	0.39%	$7.74	0.02	0.31%	199,551	318,829	12/2/2009
INTERSTATE HTLS	IHR	Thayer Lodging Group	Private	$2.22	0.00%	$2.25	0.03	1.35%	131,392	329,930	12/18/2009
IOWA TELECOM SVCS	IWA	Windstream Corpor	WIN	$16.02	-1.05%	$15.94	-0.08	-0.50%	253,668	580,722	11/24/2009
JAVELIN PHARMACEU	JAV	Myriad Pharmaceut	MYRX	$1.18	-1.67%	$1.20	0.02	2.05%	684,205	695,241	12/18/2009
K-Tron Internatio	KTII	HILLENBRAND INC	HI	$149.35	0.37%	$150.00	0.65	0.44%	24,805	23,836	1/11/2010
LODGIAN INC	LGN	Lone Star Funds	Private	$2.46	0.00%	$2.50	0.04	1.63%	13,710	69,082	1/22/2010
STARLIMS Technolo	LIMS	ABBOTT LABORATORI	ABT	$13.97	0.29%	$14.00	0.03	0.21%	16,779	52,805	12/14/2009
LANDRY'S RESTAURA	LNY	Tilman Fertitta, CEO		$20.45	-1.78%	$14.75	-5.70	-27.87%	46,034	141,517	11/3/2009
NORTH ASIA INVEST	NHR	PACIFIC CITY FINL	PFCF.OB	$9.95	0.00%	$10.77	0.82	8.23%	700	15,610	1/14/2010
NRG ENERGY INC	NRG	EXELON CORPORATIO	EXC	$21.71	-1.76%	$24.11	2.40	11.06%	5,825,506	4,485,710	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.57	0.33	138.11%	0	0	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$25.25	0.00%	$26.63	1.38	5.46%	950	567	1/8/2010
ON2 TECHNOLOGIES	ONT	Google Inc.	GOOG	$0.67	0.90%	$0.68	0.01	1.69%	774,792	1,523,170	8/5/2009
PEPSIAMERICAS INC	PAS	PEPSICO INC	PEP	$29.01	-0.10%	$29.19	0.18	0.63%	538,112	391,911	8/4/2009
PEPSI BOTTLING GR	PBG	PEPSICO INC	PEP	$37.24	0.03%	$37.39	0.15	0.40%	2,842,901	1,676,610	8/4/2009
QuadraMed Corpora	QDHC	Francisco Partners	Private	$8.40	-0.24%	$8.50	0.10	1.19%	153,423	86,582	12/8/2009
IMS HEALTH INC	RX	TPG Capital & Canada Pension Plan	Private	$21.84	0.28%	$22.00	0.16	0.73%	14,078,481	5,641,480	11/5/2009
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$17.39	0.64%	$18.25	0.86	4.95%	34,975	385,348	10/21/2009
SKYTERRA COMMUNIC	SKYT.OB	Harbinger Capital Partners	Private	$4.85	0.00%	$5.00	0.15	3.09%	91,800	4,981	9/23/2009
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.77	9.94%	$1.90	0.13	7.34%	57,683	52,130	10/12/2009
Silicon Storage T	SSTI	Microchip Technol	MCHP	$2.84	0.00%	$2.85	0.01	0.35%	568,667	643,267	2/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.51	0.00%	$0.60	0.09	17.65%	0	4,580	1/25/2010
MERIDIAN RES CP	TMR	Alta Mesa Holding	Private	$0.28	0.36%	$0.29	0.01	3.20%	159,911	679,003	12/23/2009
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$2.64	-2.22%	$3.04	0.40	15.28%	241,550	415,694	11/12/2009
Varian Inc.	VARI	AGILENT TECH INC	A	$51.55	0.17%	$52.00	0.45	0.87%	308,619	627,130	7/26/2009
VAXGEN INC	VXGN.OB	OXiGENE Inc.	OXGN	$0.45	-1.09%	$0.57	0.13	28.29%	129,300	175,727	10/15/2009
Western Sizzlin C	WEST	THE STEAK N SHAKE	SNS	$8.71	-0.68%	$8.07	-0.64	-7.35%	500	2,487	10/22/2009
Waste Services I	WSII	IESI-BFC LTD	BIN	$9.50	2.81%	$9.69	0.19	1.99%	120,752	305,521	11/12/2009
XTO ENERGY INC	XTO	EXXON MOBIL CP	XOM	$45.00	0.18%	$46.00	1.00	2.21%	17,312,042	13,730,700	12/14/2009
ZiLOG Inc.	ZILG	IXYS Corporation	IXYS	$3.57	0.00%	$3.59	0.02	0.44%	44,777	203,978	12/7/2009
Zareba Systems I	ZRBA	Woodstream	--	$8.76	0.34%	$9.00	0.24	2.74%	4,550	17,667	1/11/2010