The Risk Arbitrage Report for August 2, 2010

New Deals:

• Hess Corp (HES) to acquire American Oil & Gas (AEZ).
• Vestar Capital Partners to acquire HealthGrades (HGRD). 

Completed Deals:

• Covidien (COV) completes tender offer for Somanetics Corp (SMTS) and complete acquisition.  
• Ralcorp (RAH) completes acquisition of American Italian Pasta (AIPC). 
• SAP AG (SAP) completes tender offer for Sybase (SY).  
• Firecom completes acquisition of Synergx (SYNX.PK). 
• Welsh, Carson, Anderson & Stowe XI, L.P. completes acquisition of National Dentex (NADX).
• AZZ Inc (AZZ) completes acquisition of North American Galvanizing (NGA).
• Dimensional Associates completes acquisition of The Orchard (ORCD).
• Silver Lake & Warbug Pincus completes acquisition of Interactive Data Corp (IDC).   
• Brookfield Asset Management completes acquisition of Crystal River (CYRV.OB). 
• Charles Rilver (CRL) terminates acquisition of Wuxi Pharma(WX) as hedge funds holding CRL disapprove the deal. 

Deal Updates:

• Avis Budget (CAR) makes a bid for Dollar Thrifty (DTG).  
• Aon Corp (AON) files S-4 in connection with Hewitt Associates (HEW) merger.
• Celgene Corp (CELG) files S-4 in connection with the Abraxis Bioscience (ABII) merger. 
• European Commission clears proposed merger of Schlumberger (SLB) and Smith International (SII). 
• Early HSR termination granted on Schlumberger (SLB) and Smith International (SII) deal. 
• European Commission clears proposed merger of United Airlines (UAUA) and Continental Airlines (CAL).
• HSR expires on Allscripts (MDRX) and Eclipsys (ECLP) deal.  
• Union National (UNNF.OB) sets Sept 16 for shareholder vote on the merger with Donegal Group (DGICA).  
• SouthWest Water (SWWC) receives clearance from 3 of 5 public utility regulators.
• LB Foster (FSTR) extends tender offer for Portec Rail (PRPX) until Aug 16 with 64% of shares tendered.

One to Read:

• Lessons from End of the Charles River Deal.