Merger Arbitrage Spreads for Mar 17, 2010

Target	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Date Announced
The Allied Defens	ADG	Chemring Group	Private	$7.16	0.00%	$7.25	0.09	1.26%	1/18/2010
Airvana Inc.	AIRV	72 Mobile Holdings	Private	$7.70	0.00%	$7.65	-0.05	-0.65%	12/18/2009
Allied Capital Co	ALD	Ares Capital Corp	ARCC	$4.62	2.90%	$4.69	0.07	1.55%	10/26/2009
AMICAS Inc.	AMCS	Merge Healthcare	MRGE	$6.01	0.17%	$6.05	0.04	0.67%	3/5/2010
Allegheny Energy	AYE	FirstEnergy Corpo	FE	$23.58	0.86%	$26.58	3.00	12.72%	2/11/2010
BJ Services Compa	BJS	Baker Hughes Inco	BHI	$22.99	1.95%	$23.12	0.13	0.58%	8/31/2009
Bowne & Co. Inc.	BNE	R.R. Donnelley &	RRD	$11.27	-0.27%	$11.50	0.23	2.04%	2/23/2010
BPW Acquisition C	BPW	Talbots Inc. (Th	TLB	$10.95	1.20%	$11.25	0.30	2.74%	12/8/2009
CF Industries Hol	CF	Agrium Inc. Commo	AGU	$95.62	-0.79%	$117.67	22.05	23.06%	2/25/2009
Brink's Home Secu	CFL	Tyco Internationa	TYC	$42.12	-0.24%	$42.50	0.38	0.90%	1/19/2010
Chordiant Softwar	CHRD	Pegasystems Inc.	PEGA	$4.98	-0.20%	$5.00	0.02	0.40%	3/15/2010
COMSYS IT Partner	CITP	Manpower Inc Comm	MAN	$17.55	-0.11%	$17.65	0.10	0.57%	2/2/2010
CKE Restaurants	CKR	Thomas H Lee Partners	--	$11.47	-0.09%	$11.05	-0.42	-3.66%	2/26/2010
3Com Corporation	COMS	Hewlett-Packard C	HPQ	$7.70	-0.26%	$7.90	0.20	2.60%	11/12/2009
Care Investment T	CRE	TipTree	--	$8.91	6.58%	$9.00	0.09	1.01%	3/16/2010
CRYSTAL RIVER CAP	CYRV.OB	Brookfield Asset Management	--	$0.60	-2.04%	$0.60	0.00	0.00%	2/24/2010
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.77	0.00%	$35.00	0.23	0.66%	11/25/2009
Facet Biotech Cor	FACT	Abbott Laboratori	ABT	$26.98	-0.07%	$27.00	0.02	0.07%	3/10/2010
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$10.61	-0.84%	$12.34	1.73	16.35%	12/28/2009
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$12.75	0.99%	$14.92	2.17	17.05%	11/3/2009
FIRST LITCHFIELD	FLFL.OB	Union Savings Bank	Private	$14.75	0.00%	$15.00	0.25	1.69%	10/26/2009
Cedar Fair L.P.	FUN	Siddur Holdings	Private	$12.20	-0.33%	$11.50	-0.70	-5.74%	12/16/2009
GLOBAL MED TECH I	GLOB.OB	Haemonetics Corpo	HAE	$1.21	-0.33%	$1.22	0.01	0.74%	2/1/2010
Genesis Lease Lim	GLS	Aercap Holdings N	AER	$11.16	1.73%	$11.20	0.04	0.36%	9/18/2009
HIGHBURY FINANCL	HBRF.OB	Affiliated Manage	AMG	$6.67	0.30%	$7.43	0.76	11.36%	12/14/2009
Harleysville Nati	HNBC	First Niagara Fin	FNFG	$6.76	0.30%	$6.84	0.08	1.25%	7/27/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$8.37	0.12%	$8.45	0.08	1.00%	12/2/2009
Interstate Hotels	IHR	Thayer Lodging Group	Private	$2.25	0.45%	$2.25	0.00	0.00%	12/18/2009
infoGROUP Inc.	IUSA	CCMP Capital	--	$7.94	0.13%	$8.00	0.06	0.76%	3/8/2010
Iowa Telecommunic	IWA	Windstream Corpor	WIN	$17.12	0.65%	$16.80	-0.32	-1.87%	11/24/2009
Javelin Pharmaceu	JAV	Myriad Pharmaceut	MYRX	$1.38	-2.13%	$1.30	-0.08	-6.00%	12/18/2009
K-Tron Internatio	KTII	Hillenbrand Inc C	HI	$149.75	0.06%	$150.00	0.25	0.17%	1/11/2010
Lodgian Inc. New	LGN	Lone Star Funds	Private	$2.52	2.02%	$2.50	-0.02	-0.79%	1/22/2010
STARLIMS Technolo	LIMS	Abbott Laboratori	ABT	$13.97	0.00%	$14.00	0.03	0.21%	12/14/2009
Maine & Maritimes	MAM	Emera	--	$43.36	0.37%	$45.00	1.64	3.78%	3/12/2010
Millipore Corpora	MIL	Merck KGaA	--	$105.34	-0.24%	$107.00	1.66	1.58%	3/1/2010
North Asia Invest	NHR	PACIFIC CITY FINL	PFCF.OB	$9.82	0.00%	$10.00	0.18	1.83%	1/14/2010
NRG Energy Inc.	NRG	Exelon Corporatio	EXC	$22.50	1.03%	$24.71	2.21	9.82%	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.42	0.18	73.75%	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$25.62	-1.08%	$29.24	3.62	14.13%	1/8/2010
The Orchard Enter	ORCD	Dimensional Associates	--	$2.00	20.48%	$2.05	0.05	2.50%	3/6/2010
Peco Ii Inc.	PIII	Lineage Power	--	$5.76	0.00%	$5.86	0.10	1.74%	2/18/2010
Pinnacle Gas Reso	PINN	Scotia Waterou	--	$0.33	0.76%	$0.34	0.01	2.10%	2/24/2010
Portec Rail Produ	PRPX	L.B. Foster Compa	FSTR	$11.76	0.00%	$11.71	-0.05	-0.43%	2/17/2010
QuadraMed Corpora	QDHC	Francisco Partners	Private	$8.48	-0.12%	$8.50	0.02	0.24%	12/8/2009
Sport Supply Grou	RBI	ONCAP Management Partners	--	$13.57	-0.15%	$13.55	-0.02	-0.15%	3/15/2010
RCN Corp.	RCNI	ABRY Partners	--	$15.25	0.00%	$15.00	-0.25	-1.64%	3/5/2010
Riskmetrics Group	RISK	MSCI Inc Class A	MXB	$22.20	0.05%	$22.64	0.44	1.99%	3/1/2010
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$18.67	0.21%	$19.65	0.98	5.26%	10/21/2009
Sauer-Danfoss Inc	SHS	Danfoss	--	$13.22	0.00%	$13.25	0.03	0.23%	3/9/2010
Smith Internation	SII	Schlumberger N.V.	SLB	$44.34	1.93%	$45.64	1.30	2.93%	2/22/2010
SkillSoft plc	SKIL	SSI Investments	--	$10.66	-0.37%	$10.80	0.14	1.31%	2/12/2010
SKYTERRA COMMUNIC	SKYT.OB	Harbinger Capital Partners	Private	$4.85	0.00%	$5.00	0.15	3.09%	9/23/2009
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.54	-6.10%	$1.90	0.36	23.38%	10/12/2009
Southern Connecti	SSE	Naugatuck Valley	NVSL	$6.48	-0.36%	$7.25	0.77	11.88%	2/23/2010
Silicon Storage T	SSTI	Microchip Technol	MCHP	$3.15	2.94%	$3.05	-0.10	-3.17%	2/3/2010
Southwest Water C	SWWC	Long-Term Infrastructure Investor Group	--	$10.47	0.19%	$11.00	0.53	5.06%	3/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.54	0.37%	$0.60	0.06	10.70%	1/25/2010
Meridian Resource	TMR	Alta Mesa Holding	Private	$0.29	-0.42%	$0.29	0.01	1.75%	12/23/2009
Terra Industries	TRA	CF Industries Hol	CF	$46.12	0.13%	$46.26	0.14	0.31%	3/10/2010
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$2.90	1.05%	$3.18	0.28	9.56%	11/12/2009
Varian Inc.	VARI	Agilent Technolog	A	$51.76	-0.02%	$52.00	0.24	0.46%	7/26/2009
Western Sizzlin C	WEST	Steak n Shake Com	SNS	$8.97	-0.56%	$8.07	-0.90	-10.03%	10/22/2009
Waste Services I	WSII	IESI-BFC Ltd Comm	BIN	$10.22	1.69%	$10.32	0.10	1.02%	11/12/2009
XTO Energy Inc. C	XTO	Exxon Mobil Corpo	XOM	$47.11	0.86%	$47.25	0.14	0.30%	12/14/2009
Zenith National I	ZNT	Fairfax Financial	--	$38.24	0.10%	$38.00	-0.24	-0.63%	2/18/2010
Zareba Systems I	ZRBA	Woodstream	--	$8.96	0.11%	$9.00	0.04	0.45%	1/11/2010