The Risk Arbitrage Report for Sep 7, 2010

New Deals:

• 3G Capital to acquire Burger King (BKC). 
• 3M (MMM) to acquire Cogent (COGT).
• Ebix (EBIX) to acquire A.D.A.M. Inc (ADAM). 
• ProAssurance (PRA) to acquire American Physicians Service (AMPH). 
• Kenexa Corp (KNXA) to acquire Salary.com (SLRY).

Completed Deals:

• Gerdau S.A. (GGB) completes acquisition of Gerdau AmeriSteel (GNA).
• Williams Partners (WPZ) completes acquisition of Williams Pipeline (WMZ). 
• Synopsys (SNPS) completes acquisition of Virage Logic (VIRL).

Updated Deals:

• Phoenix Technology (PTEC) receives an unsolicited bid that tops Marlin Equity Partners bid.
• HP (HPQ) wins! Raises offer to $33 for 3PAR (PAR).
• Dell ends talks with 3PAR (PAR).
• LB Foster (FSTR) amends agreement for Portec Rail (PRPX) by increasing the payout to $11.80 and extending the drop dead date until Dec 30 and includes permitted divestitures.
• Donegal Group (DGICA) amends terms for Union National Financial (UNNF.OB) to offer more cash.
• HSR waiting period expires on Superior Well (SWSI) and Nabors Industries (NBR) deal.
• Inergy (NRGY) files S-4 in merger with Inergy Holdings (NRGP).
• Tower Bancorp (TOBC) files S-4 in merger with First Chester (FCEC).
• Surprise. Surprise.  Tender offer for Emmis Communications (EMMS) extended until Sep 8.

To Read:

• DealBook: Mariner and the MAC Question
• DealBook: The Strangeness of 3M’s Cogent Deal