Merger Arbitrage Spreads for Apr 12, 2010

Target	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Date Announced
The Allied Defens	ADG	Chemring Group	Private	$6.17	-2.22%	$7.25	1.08	17.50%	1/18/2010
AMERICAN EXPLORAT	AEXP.OB	MAINLAND RESOURCE	MNLU.OB	$0.32	6.67%	$0.37	0.05	16.41%	3/23/2010
AMICAS Inc.	AMCS	Merge Healthcare	MRGE	$6.04	0.00%	$6.05	0.01	0.17%	3/5/2010
Arena Resources I	ARD	Sandridge Energy	SD	$37.61	-0.95%	$39.00	1.39	3.69%	4/5/2010
Allegheny Energy	AYE	FirstEnergy Corpo	FE	$23.25	1.00%	$26.39	3.14	13.52%	2/11/2010
Bell Microproduct	BELM	Avnet Inc. Commo	AVT	$6.96	-0.57%	$7.00	0.04	0.57%	3/29/2010
BJ Services Compa	BJS	Baker Hughes Inco	BHI	$22.23	0.32%	$22.24	0.01	0.06%	8/31/2009
Bowne & Co. Inc.	BNE	R.R. Donnelley &	RRD	$11.13	-0.45%	$11.50	0.37	3.32%	2/23/2010
Bway Holding Comp	BWY	Dearborn Partners	--	$20.31	0.30%	$20.00	-0.31	-1.53%	3/29/2010
Brink's Home Secu	CFL	Tyco Internationa	TYC	$42.80	0.14%	$42.50	-0.30	-0.70%	1/19/2010
Chordiant Softwar	CHRD	Pegasystems Inc.	PEGA	$5.05	-0.20%	$5.00	-0.05	-0.99%	3/15/2010
CKE Restaurants	CKR	Thomas H Lee Partners	--	$12.11	0.92%	$11.05	-1.06	-8.75%	2/26/2010
3Com Corporation	COMS	Hewlett-Packard C	HPQ	$7.90	0.25%	$7.90	0.00	0.00%	11/12/2009
Care Investment T	CRE	TipTree	--	$8.94	0.45%	$9.00	0.06	0.67%	3/16/2010
CRYSTAL RIVER CAP	CYRV.OB	Brookfield Asset Management	--	$0.67	3.08%	$0.60	-0.07	-10.45%	2/24/2010
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.72	0.06%	$35.00	0.28	0.81%	11/25/2009
DRAGON PHARMA INC	DRUG.OB	Chairman & CEO	--	$0.80	0.00%	$0.82	0.02	2.50%	3/26/2010
Facet Biotech Cor	FACT	Abbott Laboratori	ABT	$27.00	0.07%	$27.00	0.00	0.00%	3/10/2010
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$10.30	0.00%	$12.31	2.01	19.54%	12/28/2009
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$13.34	-1.19%	$15.05	1.71	12.82%	11/3/2009
GLOBAL MED TECH I	GLOB.OB	Haemonetics Corpo	HAE	$1.21	0.00%	$1.22	0.01	0.83%	2/1/2010
HIGHBURY FINANCL	HBRF.OB	Affiliated Manage	AMG	$7.10	0.00%	$7.75	0.65	9.18%	12/14/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$7.95	0.76%	$8.03	0.08	0.99%	12/2/2009
infoGROUP Inc.	IUSA	CCMP Capital	--	$7.93	-0.25%	$8.00	0.07	0.88%	3/8/2010
Iowa Telecommunic	IWA	Windstream Corpor	WIN	$16.74	-0.12%	$16.71	-0.03	-0.17%	11/24/2009
Javelin Pharmaceu	JAV	Myriad Pharmaceut	MYRX	$1.34	0.75%	$1.28	-0.06	-4.67%	12/18/2009
Lodgian Inc. New	LGN	Lone Star Funds	Private	$2.52	0.00%	$2.50	-0.02	-0.79%	1/22/2010
Maine & Maritimes	MAM	Emera	--	$44.04	0.92%	$45.00	0.96	2.18%	3/12/2010
Millipore Corpora	MIL	Merck KGaA	--	$105.98	0.12%	$107.00	1.02	0.96%	3/1/2010
National Dentex C	NADX	Welsh, Carson, Anderson & Stowe XI, L.P.	--	$16.94	0.30%	$17.00	0.06	0.35%	4/5/2010
North American Ga	NGA	AZZ Incorporated	AZZ	$7.54	0.00%	$7.50	-0.04	-0.53%	4/1/2010
North Asia Invest	NHR	PACIFIC CITY FINL	PFCF.OB	$9.85	0.00%	$10.00	0.15	1.52%	1/14/2010
NRG Energy Inc.	NRG	Exelon Corporatio	EXC	$21.80	0.65%	$24.12	2.32	10.65%	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.56	0.32	131.67%	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$29.75	-0.83%	$32.06	2.31	7.77%	1/8/2010
Optimal Group In	OPMR	WowWee	Insider	$2.38	0.00%	$2.40	0.02	0.84%	3/17/2010
The Orchard Enter	ORCD	Dimensional Associates	--	$2.00	-0.05%	$2.05	0.05	2.55%	3/6/2010
Peco Ii Inc.	PIII	Lineage Power	--	$5.82	-0.12%	$5.86	0.04	0.64%	2/18/2010
Pinnacle Gas Reso	PINN	Scotia Waterou	--	$0.33	-0.45%	$0.34	0.01	3.50%	2/24/2010
Portec Rail Produ	PRPX	L.B. Foster Compa	FSTR	$11.61	-0.34%	$11.71	0.10	0.86%	2/17/2010
Sport Supply Grou	RBI	ONCAP Management Partners	--	$13.44	-0.15%	$13.55	0.11	0.82%	3/15/2010
RCN Corp.	RCNI	ABRY Partners	--	$15.07	0.33%	$15.00	-0.07	-0.46%	3/5/2010
Riskmetrics Group	RISK	MSCI Inc Class A	MXB	$22.74	0.26%	$22.95	0.21	0.92%	3/1/2010
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$18.43	0.66%	$19.75	1.32	7.17%	10/21/2009
Sauer-Danfoss Inc	SHS	Danfoss	--	$13.71	1.56%	$14.00	0.29	2.12%	3/9/2010
Smith Internation	SII	Schlumberger N.V.	SLB	$44.85	-0.29%	$46.34	1.49	3.33%	2/22/2010
SkillSoft plc	SKIL	SSI Investments	--	$11.13	0.18%	$11.25	0.12	1.08%	2/12/2010
Symyx Technologie	SMMX	Accelrys Inc.	ACCL	$5.61	0.18%	$5.55	-0.06	-1.12%	4/5/2010
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.82	1.11%	$1.90	0.08	4.40%	10/12/2009
Southern Connecti	SSE	Naugatuck Valley	NVSL	$6.69	-0.74%	$7.25	0.56	8.37%	2/23/2010
Sterling Banks I	STBK	Roma Financial Co	ROMA	$2.35	0.00%	$2.52	0.17	7.23%	3/18/2010
Southwest Water C	SWWC	Long-Term Infrastructure Investor Group	--	$10.49	0.10%	$11.00	0.51	4.86%	3/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.62	-3.44%	$0.70	0.08	12.90%	1/25/2010
Meridian Resource	TMR	Alta Mesa Holding	--	$0.31	0.00%	$0.29	-0.02	-6.45%	12/23/2009
Terra Industries	TRA	CF Industries Hol	CF	$45.72	-0.17%	$46.00	0.28	0.62%	3/10/2010
PLATO Learning In	TUTR	Thoma Bravo	--	$5.65	0.00%	#VALUE!	#VALUE!	0.00%	3/26/2010
Techwell Inc.	TWLL	Intersil Corporat	ISIL	$18.61	-0.11%	$18.50	-0.11	-0.59%	3/22/2010
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$3.04	-0.98%	$3.32	0.28	9.06%	11/12/2009
Varian Inc.	VARI	Agilent Technolog	A	$51.82	-0.04%	$52.00	0.18	0.35%	7/26/2009
White Electronic	WEDC	Microsemi Corpora	MSCC	$7.02	-0.14%	$7.00	-0.02	-0.28%	3/30/2010
Waste Services I	WSII	IESI-BFC Ltd Comm	BIN	$10.55	0.76%	$10.68	0.13	1.23%	11/12/2009
XTO Energy Inc. C	XTO	Exxon Mobil Corpo	XOM	$48.37	1.30%	$48.81	0.44	0.90%	12/14/2009
Zenith National I	ZNT	Fairfax Financial	--	$38.34	-0.08%	$38.00	-0.34	-0.89%	2/18/2010