Merger Arbitrage Spreads for Mar 22, 2010

Target	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Date Announced
The Allied Defens	ADG	Chemring Group	Private	$7.22	0.70%	$7.25	0.03	0.42%	1/18/2010
Airvana Inc.	AIRV	72 Mobile Holdings	Private	$7.70	-0.39%	$7.65	-0.05	-0.65%	12/18/2009
Allied Capital Co	ALD	Ares Capital Corp	ARCC	$4.45	-4.09%	$4.59	0.14	3.16%	10/26/2009
AMICAS Inc.	AMCS	Merge Healthcare	MRGE	$6.01	0.00%	$6.05	0.04	0.67%	3/5/2010
Allegheny Energy	AYE	FirstEnergy Corpo	FE	$23.44	0.34%	$26.53	3.09	13.20%	2/11/2010
BJ Services Compa	BJS	Baker Hughes Inco	BHI	$21.56	-3.58%	$21.72	0.16	0.74%	8/31/2009
Bowne & Co. Inc.	BNE	R.R. Donnelley &	RRD	$11.23	-0.53%	$11.50	0.27	2.40%	2/23/2010
BPW Acquisition C	BPW	Talbots Inc. (Th	TLB	$10.91	-1.27%	$11.25	0.34	3.12%	12/8/2009
Brink's Home Secu	CFL	Tyco Internationa	TYC	$42.16	-0.02%	$42.50	0.34	0.81%	1/19/2010
Chordiant Softwar	CHRD	Pegasystems Inc.	PEGA	$5.07	0.80%	$5.00	-0.07	-1.38%	3/15/2010
COMSYS IT Partner	CITP	Manpower Inc Comm	MAN	$17.50	-0.11%	$17.65	0.15	0.86%	2/2/2010
CKE Restaurants	CKR	Thomas H Lee Partners	--	$11.41	0.09%	$11.05	-0.36	-3.16%	2/26/2010
3Com Corporation	COMS	Hewlett-Packard C	HPQ	$7.66	-0.52%	$7.90	0.24	3.13%	11/12/2009
Care Investment T	CRE	TipTree	--	$8.94	0.34%	$9.00	0.06	0.67%	3/16/2010
CRYSTAL RIVER CAP	CYRV.OB	Brookfield Asset Management	--	$0.71	18.33%	$0.60	-0.11	-15.49%	2/24/2010
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.71	-0.29%	$35.00	0.29	0.84%	11/25/2009
Facet Biotech Cor	FACT	Abbott Laboratori	ABT	$27.01	0.15%	$27.00	-0.01	-0.04%	3/10/2010
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$10.58	-0.66%	$12.34	1.76	16.68%	12/28/2009
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$12.86	0.70%	$14.80	1.94	15.08%	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	$11.78	-2.00%	$11.50	-0.28	-2.38%	12/16/2009
GLOBAL MED TECH I	GLOB.OB	Haemonetics Corpo	HAE	$1.21	0.00%	$1.22	0.01	0.83%	2/1/2010
Genesis Lease Lim	GLS	Aercap Holdings N	AER	$10.96	-0.90%	$11.06	0.10	0.91%	9/18/2009
HIGHBURY FINANCL	HBRF.OB	Affiliated Manage	AMG	$6.85	0.29%	$7.52	0.67	9.75%	12/14/2009
Harleysville Nati	HNBC	First Niagara Fin	FNFG	$6.84	0.29%	$6.86	0.02	0.31%	7/27/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$8.27	0.98%	$8.46	0.19	2.25%	12/2/2009
infoGROUP Inc.	IUSA	CCMP Capital	--	$7.93	0.13%	$8.00	0.07	0.88%	3/8/2010
Iowa Telecommunic	IWA	Windstream Corpor	WIN	$16.92	-1.51%	$16.73	-0.19	-1.14%	11/24/2009
Javelin Pharmaceu	JAV	Myriad Pharmaceut	MYRX	$1.34	2.29%	$1.26	-0.08	-6.14%	12/18/2009
K-Tron Internatio	KTII	Hillenbrand Inc C	HI	$149.89	0.09%	$150.00	0.11	0.07%	1/11/2010
Lodgian Inc. New	LGN	Lone Star Funds	Private	$2.54	2.01%	$2.50	-0.04	-1.57%	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	--	$44.50	2.04%	$45.00	0.50	1.12%	3/12/2010
Millipore Corpora	MIL	Merck KGaA	--	$105.25	-0.21%	$107.00	1.75	1.66%	3/1/2010
North Asia Invest	NHR	PACIFIC CITY FINL	PFCF.OB	$9.94	1.02%	$10.00	0.06	0.60%	1/14/2010
NRG Energy Inc.	NRG	Exelon Corporatio	EXC	$22.06	0.18%	$24.32	2.26	10.24%	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.54	0.30	125.24%	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$26.94	1.66%	$31.46	4.52	16.78%	1/8/2010
Optimal Group In	OPMR	WowWee	Insider	$2.35	-0.43%	$2.40	0.05	2.13%	3/17/2010
The Orchard Enter	ORCD	Dimensional Associates	--	$2.00	0.32%	$2.05	0.05	2.50%	3/6/2010
Peco Ii Inc.	PIII	Lineage Power	--	$5.81	0.52%	$5.86	0.05	0.86%	2/18/2010
Pinnacle Gas Reso	PINN	Scotia Waterou	--	$0.32	-3.23%	$0.34	0.02	6.22%	2/24/2010
Portec Rail Produ	PRPX	L.B. Foster Compa	FSTR	$11.67	-0.09%	$11.71	0.04	0.34%	2/17/2010
Sport Supply Grou	RBI	ONCAP Management Partners	--	$13.56	0.15%	$13.55	-0.01	-0.07%	3/15/2010
RCN Corp.	RCNI	ABRY Partners	--	$15.08	-1.05%	$15.00	-0.08	-0.53%	3/5/2010
Riskmetrics Group	RISK	MSCI Inc Class A	MXB	$22.26	-0.13%	$22.67	0.41	1.84%	3/1/2010
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$18.43	-1.60%	$19.76	1.33	7.20%	10/21/2009
Sauer-Danfoss Inc	SHS	Danfoss	--	$13.20	-0.08%	$13.25	0.05	0.38%	3/9/2010
Smith Internation	SII	Schlumberger N.V.	SLB	$43.31	-1.68%	$44.81	1.50	3.45%	2/22/2010
SkillSoft plc	SKIL	SSI Investments	--	$10.65	0.00%	$10.80	0.15	1.41%	2/12/2010
SKYTERRA COMMUNIC	SKYT.OB	Harbinger Capital Partners	Private	$4.88	0.21%	$5.00	0.12	2.46%	9/23/2009
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.45	-3.33%	$1.90	0.45	31.03%	10/12/2009
Southern Connecti	SSE	Naugatuck Valley	NVSL	$6.52	0.31%	$7.25	0.73	11.20%	2/23/2010
Silicon Storage T	SSTI	Microchip Technol	MCHP	$3.10	0.00%	$3.05	-0.05	-1.61%	2/3/2010
Sterling Banks I	STBK	Roma Financial Co	ROMA	$2.30	-2.13%	$2.52	0.22	9.57%	3/18/2010
Southwest Water C	SWWC	Long-Term Infrastructure Investor Group	--	$10.50	0.19%	$11.00	0.50	4.76%	3/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.54	0.00%	$0.60	0.06	10.70%	1/25/2010
Meridian Resource	TMR	Alta Mesa Holding	Private	$0.28	-1.30%	$0.29	0.01	3.39%	12/23/2009
Terra Industries	TRA	CF Industries Hol	CF	$45.70	-0.39%	$45.86	0.16	0.35%	3/10/2010
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$2.92	-0.34%	$3.18	0.26	8.87%	11/12/2009
Varian Inc.	VARI	Agilent Technolog	A	$51.76	-0.04%	$52.00	0.24	0.46%	7/26/2009
Western Sizzlin C	WEST	Steak n Shake Com	SNS	$9.27	3.46%	$8.07	-1.20	-12.94%	10/22/2009
Waste Services I	WSII	IESI-BFC Ltd Comm	BIN	$10.05	-3.37%	$10.23	0.18	1.80%	11/12/2009
XTO Energy Inc. C	XTO	Exxon Mobil Corpo	XOM	$47.21	-0.57%	$47.58	0.37	0.79%	12/14/2009
Zenith National I	ZNT	Fairfax Financial	--	$38.34	0.08%	$38.00	-0.34	-0.89%	2/18/2010
Zareba Systems I	ZRBA	Woodstream	--	$8.91	-0.45%	$9.00	0.09	1.01%	1/11/2010