Merger Arbitrage Spreads for Apr 19, 2010

Target	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Date Announced
The Allied Defens	ADG	Chemring Group	Private	$6.32	-0.16%	$7.25	0.93	14.72%	1/18/2010
AMERICAN EXPLORAT	AEXP.OB	MAINLAND RESOURCE	MNLU.OB	$0.28	0.00%	$0.37	0.09	33.04%	3/23/2010
AMICAS Inc.	AMCS	Merge Healthcare	MRGE	$6.05	0.00%	$6.05	0.00	0.00%	3/5/2010
Arena Resources I	ARD	Sandridge Energy	SD	$35.18	-2.03%	$36.85	1.67	4.74%	4/5/2010
Allegheny Energy	AYE	FirstEnergy Corpo	FE	$22.27	-1.94%	$25.25	2.98	13.36%	2/11/2010
Bell Microproduct	BELM	Avnet Inc. Commo	AVT	$6.98	-0.43%	$7.00	0.02	0.29%	3/29/2010
BJ Services Compa	BJS	Baker Hughes Inco	BHI	$21.65	-3.13%	$21.71	0.06	0.28%	8/31/2009
Bowne & Co. Inc.	BNE	R.R. Donnelley &	RRD	$11.14	-0.18%	$11.50	0.36	3.23%	2/23/2010
Bway Holding Comp	BWY	Dearborn Partners	--	$20.00	-0.25%	$20.00	0.00	0.00%	3/29/2010
Brink's Home Secu	CFL	Tyco Internationa	TYC	$42.81	-0.49%	$42.50	-0.31	-0.72%	1/19/2010
Chordiant Softwar	CHRD	Pegasystems Inc.	PEGA	$4.99	-0.80%	$5.00	0.01	0.20%	3/15/2010
CKE Restaurants	CKR	Thomas H Lee Partners	--	$11.97	-0.42%	$11.05	-0.92	-7.69%	2/26/2010
Care Investment T	CRE	TipTree	--	$8.92	-0.22%	$9.00	0.08	0.90%	3/16/2010
CRYSTAL RIVER CAP	CYRV.OB	Brookfield Asset Management	--	$0.68	1.19%	$0.60	-0.08	-11.89%	2/24/2010
Dialysis Corporat	DCAI	US Renal Care	--	$11.22	0.36%	$11.25	0.03	0.27%	4/14/2010
Dyncorp Internati	DCP	Cerberus Capital Management	--	$17.29	0.29%	$17.55	0.26	1.50%	4/12/2010
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.72	-0.12%	$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	$26.99	0.04%	$27.00	0.01	0.04%	3/10/2010
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$10.13	2.95%	$12.32	2.19	21.63%	12/28/2009
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$13.40	0.00%	$14.83	1.43	10.65%	11/3/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$8.24	0.00%	$8.29	0.05	0.57%	12/2/2009
infoGROUP Inc.	IUSA	CCMP Capital	--	$8.00	0.13%	$8.00	0.00	0.00%	3/8/2010
Iowa Telecommunic	IWA	Windstream Corpor	WIN	$16.82	-0.30%	$16.73	-0.09	-0.55%	11/24/2009
Javelin Pharmaceu	JAV	Myriad Pharmaceut	MYRX	$2.17	-0.91%	$1.44	-0.73	-33.85%	12/18/2009
Lodgian Inc. New	LGN	Lone Star Funds	Private	$2.51	0.00%	$2.50	-0.01	-0.40%	1/22/2010
Maine & Maritimes	MAM	Emera	--	$43.64	-0.34%	$45.00	1.36	3.12%	3/12/2010
Mariner Energy I	ME	Apache Corporatio	APA	$25.45	-0.90%	$25.77	0.32	1.26%	4/15/2010
Millipore Corpora	MIL	Merck KGaA	--	$106.00	-0.07%	$107.00	1.00	0.94%	3/1/2010
Mirant Corp Commo	MIR	RRI Energy Inc.	RRI	$11.99	-1.24%	$11.71	-0.28	-2.35%	4/11/2010
National Dentex C	NADX	Welsh, Carson, Anderson & Stowe XI, L.P.	--	$16.95	-0.05%	$17.00	0.05	0.29%	4/5/2010
North American Ga	NGA	AZZ Incorporated	AZZ	$7.60	0.26%	$7.50	-0.10	-1.32%	4/1/2010
North Asia Invest	NHR	PACIFIC CITY FINL	PFCF.OB	$9.86	0.00%	$10.00	0.14	1.42%	1/14/2010
NRG Energy Inc.	NRG	Exelon Corporatio	EXC	$21.85	-3.74%	$23.77	1.92	8.80%	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.46	0.22	93.06%	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$29.65	-2.79%	$32.06	2.41	8.14%	1/8/2010
Optimal Group In	OPMR	WowWee	Insider	$2.39	0.84%	$2.40	0.01	0.42%	3/17/2010
The Orchard Enter	ORCD	Dimensional Associates	--	$2.00	0.50%	$2.05	0.05	2.50%	3/6/2010
Phase Forward Inc	PFWD	Oracle Corporatio	ORCL	$16.80	28.44%	$17.00	0.20	1.19%	4/16/2010
Pinnacle Gas Reso	PINN	Scotia Waterou	--	$0.33	1.21%	$0.34	0.01	1.80%	2/24/2010
Portec Rail Produ	PRPX	L.B. Foster Compa	FSTR	$11.61	0.09%	$11.71	0.10	0.86%	2/17/2010
Sport Supply Grou	RBI	ONCAP Management Partners	--	$13.42	-0.81%	$13.55	0.13	0.97%	3/15/2010
RCN Corp.	RCNI	ABRY Partners	--	$14.78	0.00%	$15.00	0.22	1.49%	3/5/2010
Riskmetrics Group	RISK	MSCI Inc Class A	MXB	$22.82	-0.78%	$23.06	0.24	1.06%	3/1/2010
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$17.97	-1.53%	$19.28	1.31	7.29%	10/21/2009
Sauer-Danfoss Inc	SHS	Danfoss	--	$15.83	1.15%	$14.00	-1.83	-11.56%	3/9/2010
Smith Internation	SII	Schlumberger N.V.	SLB	$44.37	-2.50%	$45.84	1.47	3.30%	2/22/2010
SkillSoft plc	SKIL	SSI Investments	--	$11.17	0.18%	$11.25	0.08	0.72%	2/12/2010
Symyx Technologie	SMMX	Accelrys Inc.	ACCL	$5.67	-0.53%	$5.59	-0.08	-1.48%	4/5/2010
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.82	-0.55%	$1.90	0.08	4.40%	10/12/2009
Southern Connecti	SSE	Naugatuck Valley	NVSL	$6.67	-1.04%	$7.25	0.58	8.70%	2/23/2010
Sterling Banks I	STBK	Roma Financial Co	ROMA	$2.38	0.30%	$2.52	0.14	6.02%	3/18/2010
Southwest Water C	SWWC	Long-Term Infrastructure Investor Group	--	$10.55	-0.38%	$11.00	0.45	4.27%	3/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.69	2.22%	$0.70	0.01	1.45%	1/25/2010
Meridian Resource	TMR	Alta Mesa Holding	--	$0.30	-2.23%	$0.33	0.03	8.87%	12/23/2009
PLATO Learning In	TUTR	Thoma Bravo	--	$5.76	0.70%	$5.60	-0.16	-2.78%	3/26/2010
Techwell Inc.	TWLL	Intersil Corporat	ISIL	$18.55	0.00%	$18.50	-0.05	-0.27%	3/22/2010
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$3.09	-0.96%	$3.35	0.26	8.55%	11/12/2009
Varian Inc.	VARI	Agilent Technolog	A	$51.81	-0.02%	$52.00	0.19	0.37%	7/26/2009
White Electronic	WEDC	Microsemi Corpora	MSCC	$7.03	-0.28%	$7.00	-0.03	-0.43%	3/30/2010
Boots and Coots	WEL	Halliburton Compa	HAL	$2.94	-0.34%	$3.00	0.06	2.04%	4/12/2010
Waste Services I	WSII	IESI-BFC Ltd Comm	BIN	$11.21	-0.53%	$11.32	0.11	1.00%	11/12/2009
XTO Energy Inc. C	XTO	Exxon Mobil Corpo	XOM	$47.67	-0.71%	$48.22	0.55	1.15%	12/14/2009
Zenith National I	ZNT	Fairfax Financial	--	$38.36	0.00%	$38.00	-0.36	-0.94%	2/18/2010