The Risk Arbitrage Report for June 7, 2010

New Deals:

• Sonic Solutions (SNIC) to acquire DivX (DIVX).
• Covidien (COV) to acquire ev3 (EVVV) for $22.50 cash.
• Wellspring Capital to acquire OMNI Energy (OMNI) for $2.75 cash.
• Thomas Bravo and Ontario Teachers’ Pension Plan to acquire SonicWall (SNWL) for $11.50 cash.

Completed Deals:

• US Renal Care completes acquisition of Dialysis Corp (DCAI).
• Windstream (WIN) completes acquisition of Iowa Telecom (IWA). 
• GTCR completes acquisition of Protection One (PONE).
• MSCI (MXB) completes acquisition of RiskMetrics (RISK).
• Churchill Downs (CHDN) completes acquisition of Youbet.com (UBET)

Deal Updates:

• Yikes!  What a mess. Hospira (HSP) further extends offer for Javelin (JAV) until June 16 on concerns that all conditions of the offer have not been satisfied. JAV turns and sues HSP to close the deal.  JAV reveals that it received non-compliance notice from AMEX over concerns of financial condition. 
• SandRidge Energy (SD) raises offer for Arena Resources (ARD) by $2.
• Palm (PALM) and Hewlett-Packard (HPQ) get HSR clearance.
• The GEO Group (GEO) and Cornell (CRN) get HSR clearance.
• Rubio's Restaurant (RUBO) and Mill Road Capital get HSR clearance.
• inVentiv Health (VTIV) and Thomas H. Lee Partners get HSR clearance.
• Virtual Radiologic (VRAD) and Thomas H. Lee Partners get HSR clearance.
• CenturyLink (CTL) files S-4 for Qwest (Q).

Reading:

• DealBook: The Urgency of Javelin’s MAC Battle
• DealBook: Mariner and Javelin: Two Deals on the Brink