Sunday, September 26, 2010

The Risk Arbitrage Report for September 27, 2010

New Deals:
  • IBM (IBM) to acquire Netezza (NZ).
  • Trustmark (TRMK) to acquire Cadence Financial (CADE).
  • Arrow Electronics (ARW) to acquire Nu Horizons (NUHC). 
  • Safran to acquire L-1 Identity (INET).
  • Penn Virginia Resource Partners (PVR) to acquire Penn Virginia GP Holdings (PVG). 
  • Bayside Capital Partners to acquire Majestic Capital (MAJC).
  • Hellman & Friedman Capital Partners to acquire Internet Brands (INET).
  • Battery Ventures to acquire RAE Systems (RAE).
Completed Deals:
Updated Deals:

Merger Arbitrage Spreads September 27, 2010

The latest stock merger spreads:

Target Ticker Acquirer Ticker Current
Price
Take Over
Price
Price Diff % Diff Date
Announced
Abraxis Bioscienc ABII Celgene Corporati CELG $76.68 $73.30 -3.38 -4.41% 6/30/2010
American Physicia ACAP The Doctors Company -- $41.50 $41.50 0.00 0.00% 7/8/2010
AmeriCredit Corpo ACF General Motors -- $24.37 $24.50 0.13 0.53% 7/22/2010
A.D.A.M. Inc. ADAM Ebix Inc EBIX $6.33 $7.18 0.85 13.44% 8/30/2010
ADC Telecommunica ADCT Tyco Electronics TEL $12.66 $12.75 0.09 0.71% 7/13/2010
AMERICAN EXPLORAT AEXP.OB MAINLAND RESOURCE MNLU.OB $0.06 $0.09 0.03 41.67% 3/23/2010
American Oil & Ga AEZ Hess Corporation HES $7.93 $7.94 0.01 0.09% 7/28/2010
Alloy Inc. ALOY ZelnickMedia -- $9.65 $9.80 0.15 1.55% 6/24/2010
American Physicia AMPH Pro-Assurance Cor PRA $32.36 $32.50 0.14 0.43% 9/1/2010
Arc Sight Inc. ARST Hewlett-Packard C HPQ $43.41 $43.50 0.09 0.21% 9/13/2010
ATC Technology Co ATAC GENCO Distribution System -- $24.72 $25.00 0.28 1.13% 7/19/2010
Atlantic BancGrou ATBC Jacksonville Banc JAXB $2.44 $2.18 -0.26 -10.82% 5/10/2010
Allegheny Energy AYE FirstEnergy Corpo FE $24.04 $25.41 1.37 5.71% 2/11/2010
BANCINSURANCE CP BCIS.OB Insiders -- $8.10 $8.50 0.40 4.94% 8/12/2010
Buckeye GP Holdin BGH Buckeye Partners BPL $41.95 $43.72 1.77 4.23% 6/11/2010
Burger King Holdi BKC 3G Capital -- $23.81 $24.00 0.19 0.80% 9/2/2010
Bowne & Co. Inc. BNE R.R. Donnelley & RRD $10.98 $11.50 0.52 4.74% 2/23/2010
Cadence Financial CADE Trustmark Corpora TRMK $2.00 $2.11 0.11 5.33% 9/22/2010
Continental Airli CAL UAL Corporation UAUA $23.96 $23.93 -0.03 -0.13% 5/3/2010
Comm Bancorp Inc CCBP F.N.B. Corporatio FNB $38.57 $39.64 1.07 2.77% 8/9/2010
Central Jersey Ba CJBK Kearny Financial KRNY $7.42 $7.50 0.08 1.08% 5/25/2010
Cellu Tissue Hold CLU Clearwater Paper CLW $11.93 $12.00 0.07 0.59% 9/16/2010
Cogent Inc. COGT 3M Company Common MMM $10.74 $10.50 -0.24 -2.23% 8/30/2010
DivX Inc. DIVX Sonic Solutions SNIC $8.08 $8.22 0.14 1.75% 6/2/2010
Dollar Thrifty Au DTG Hertz Global Hold HTZ $51.03 $50.70 -0.33 -0.64% 4/26/2010
Diamond Managemen DTPI PricewaterhouseCoopers -- $12.47 $12.50 0.03 0.24% 8/24/2010
Dynegy Inc. (Dela DYN The Blackstone Gr BX $4.53 $4.50 -0.03 -0.66% 8/13/2010
Enterprise GP Hol EPE Enterprise Produc EPD $56.79 $58.17 1.38 2.43% 9/7/2010
First Chester Cou FCEC Tower Bancorp Inc TOBC $5.43 $9.43 4.00 73.69% 12/28/2009
GLG Partners Inc GLG Man Group -- $4.49 $4.50 0.01 0.22% 5/17/2010
Hewitt Associates HEW Aon Corporation C AON $50.62 $50.71 0.09 0.17% 7/12/2010
Health Grades In HGRD Vestar Capital Partners -- $8.20 $8.20 0.00 0.00% 7/28/2010
ICx Technologies ICXT FLIR Systems Inc FLIR $7.61 $7.55 -0.06 -0.79% 8/16/2010
L-1 Identity Solu ID Safran -- $11.69 $12.00 0.31 2.65% 9/20/2010
Internet Brands INET Hellman & Friedman Capital Partners -- $13.16 $13.35 0.19 1.44% 9/20/2010
LSB Corporation LSBX People's United F PBCT $20.80 $21.00 0.20 0.96% 7/15/2010
Majestic Capital MAJC Bayside Capital Partners -- $0.38 $0.45 0.08 20.00% 9/21/2010
Maine & Maritimes MAM Emera -- $44.60 $45.00 0.41 0.91% 3/12/2010
Mariner Energy I ME Apache Corporatio APA $24.19 $24.52 0.33 1.38% 4/15/2010
Micrus Endovascul MEND Johnson & Johnson JNJ $23.38 $23.40 0.02 0.09% 7/12/2010
MCAFEE Inc MFE Intel Corporation INTC $47.32 $48.00 0.68 1.44% 8/19/2010
Mirant Corp Commo MIR RRI Energy Inc. RRI $9.90 $10.06 0.16 1.66% 4/11/2010
NewAlliance Bancs NAL First Niagara Fin FNFG $12.48 $12.90 0.42 3.34% 8/19/2010
Inergy Holdings NRGP Inergy L.P. Comm NRGY $28.73 $29.57 0.84 2.92% 8/9/2010
NBTY Inc. Common NTY Carlyle Group -- $54.94 $55.00 0.06 0.11% 7/15/2010
Nu Horizons Elect NUHC Arrow Electronics ARW $6.93 $7.00 0.07 1.01% 9/20/2010
Nymagic Inc. Com NYM ProSight Specialty Insurance -- $25.78 $25.75 -0.03 -0.12% 7/15/2010
Netezza Corporati NZ International Bus IBM $27.46 $27.00 -0.46 -1.68% 9/20/2010
SYNTHETECH INC NZYM.OB W.R. Grace & Comp GRA $0.96 $1.07 0.11 11.20% 9/15/2010
Occam Networks I OCNW Calix Inc Common CALX $7.41 $7.64 0.23 3.17% 9/16/2010
O. I. Corporation OICO ITT Corporation C ITT $12.30 $12.35 0.05 0.41% 9/14/2010
OMNI Energy Servi OMNI Wellspring Capital Management -- $2.72 $2.75 0.03 1.10% 6/4/2010
Osteotech Inc. OSTE Medtronic Inc. Co MDT $6.45 $6.50 0.05 0.78% 8/17/2010
OTIX Global Inc OTIX William Demant Holding -- $8.43 $8.60 0.17 1.99% 9/13/2010
3PAR Inc Common S PAR Hewlett-Packard C HPQ $32.98 $33.00 0.02 0.06% 8/27/2010
PINNACLE GAS RES. PINN.PK Scotia Waterous -- $0.32 $0.34 0.03 7.94% 2/24/2010
PMA Capital Corpo PMACA Old Republic Inte ORI $7.48 $7.50 0.02 0.22% 6/10/2010
Penwest Pharmaceu PPCO Endo Pharmaceutic ENDP $4.98 $5.00 0.02 0.40% 8/10/2010
Portec Rail Produ PRPX L.B. Foster Compa FSTR $11.60 $11.80 0.20 1.72% 2/17/2010
Psychiatric Solut PSYS Universal Health UHS $33.50 $33.75 0.25 0.75% 5/17/2010
Phoenix Technolog PTEC Marlin Equity Partners -- $3.95 $3.85 -0.10 -2.53% 8/17/2010
Pactiv Corporatio PTV Reynolds Group Holdings Limited -- $32.93 $33.25 0.32 0.97% 8/17/2010
Penn Virginia GP PVG Penn Virginia Res PVR $22.75 $23.96 1.21 5.32% 9/21/2010
Prospect Medical PZZ Leonard Green & Partners -- $8.67 $8.50 -0.17 -1.96% 8/16/2010
Qwest Communicati Q CenturyLink Inc. CTL $6.25 $6.53 0.28 4.50% 4/22/2010
RAE Systems Inc C RAE Battery Ventures -- $1.56 $1.60 0.04 2.56% 9/20/2010
Res-Care Inc. RSCR ONEX CORPORATION OCX.TO $13.21 $13.25 0.04 0.30% 9/7/2010
Salary.com SLRY Kenexa Corporatio KNXA $4.07 $4.07 0.00 0.00% 9/1/2010
Smithtown Bancorp SMTB People's United F PBCT $3.74 $3.88 0.14 3.80% 7/15/2010
Sinoenergy Corpor SNEN Company's chairman and president -- $1.87 $1.90 0.03 1.60% 10/12/2009
Southern Connecti SSE Naugatuck Valley NVSL $5.78 $6.75 0.97 16.78% 2/23/2010
Student Loan Corp STU Discover Financia DFS $29.89 $30.00 0.11 0.37% 9/17/2010
Talecris Biothera TLCR GRIFOLS A GRF.MC $23.10 $25.95 2.85 12.36% 6/7/2010
Trubion Pharmaceu TRBN Emergent Biosolut EBS $4.57 $4.37 -0.20 -4.42% 8/12/2010
The South Financi TSFG Toronto Dominion TD $0.29 $0.29 0.00 0.14% 5/17/2010
Microtune Inc. TUNE Zoran Corporation ZRAN $2.89 $2.92 0.03 1.04% 9/8/2010
Unica Corporation UNCA International Bus IBM $21.05 $21.00 -0.05 -0.24% 8/13/2010
UNION NATL FINCL UNNF.OB Donegal Group In DGICA $8.15 $8.25 0.10 1.23% 4/20/2010
PET DRX CORP VETS.PK VCA Antech Inc. WOOF $0.33 $0.34 0.01 3.82% 6/2/2010
Valeant Pharmaceu VRX Biovail Corporati BVF $65.16 $65.05 -0.11 -0.17% 6/21/2010
Expressjet Holdin XJT SkyWest Inc. SKYW $6.68 $6.75 0.07 1.05% 8/4/2010
ZymoGenetics Inc ZGEN Bristol-Myers Squ BMY $9.73 $9.75 0.02 0.21% 9/7/2010