The Risk Arbitrage Report for September 20, 2010

New Deals:

• HP (HPQ) to acquire ArcSight (ARST).  
• ITT Corp (ITT) to acquire O.I. Corp (OICO).
• William Demant Holding to acquire OTIX Global (OTIX). 
• W.R. Grace (GRA) to acquire Synthetech (NZYM.OB).  
• Calix (CALX) to acquire Occam Networks (OCNW).
• Clearwater Paper (CLW) to acquire Cellu Tissue (CLU). 
• Discover Financial (DFS) to acquire The Student Loan Corp (STU).

Completed Deals:

• Long-Term Infrastructure Investor Group completes acquisition of Southwest Water (SWWC).  
• TIBCO (TIBX) completes acquisition of Proginet (PRGF). 

Updated Deals:

• Hertz (HTZ) increases cash by $10.80 for Dollar Thrifty (DTG) and shareholder meeting delayed until Sep 30.  
• United (UAUA) stockholders approve merger with Continental (CAL).
• Continental (CAL) stockholders approve merger with United (UAUA).
• ATC Technology (ATAC) set Oct 22 for shareholder vote. 
• FirstEnergy Corp (FE) shareholders approve proposals related to merger with Allegheny Energy (AYE). Allegheny Energy (AYE) shareholders also approve he merger.
• Central Jersey (CJBK) shareholders approve merger with Kearny Financial (KRNY).
• Union Nation Financial (UNNF.OB) shareholders approve merger with Donegal Group (DGICA).
• Dynegy (DYN) sets shareholder meeting for Nov 17 to vote on merger with Blackstone (BK). 
• Vestar Capital extends tender offer for Health Grades (HGRD) to 10/7 from 9/16 because of ongoing litigation.
• HSR expires on 3PAR (PAR) and HP (HPQ) deal.
• Cogent (COGT) and 3M (MMM) receive early HSR termination.
• ExpressJet (XJT) and SkyWest (SKYW) receive early HSR termination. 
• Phoenix Technology (PTEC) and Marlin Equity Partners receive early HSR termination.
• Prospect Medical Holdings (PZZ) and Green Equity receive early HSR termination.  
• Salary.com (SLRY) and Kenexa Corp (KNXA) receive early HSR termination.
• Diamond Management (DTPI) and PricewaterhouseCoopers receive early HSR termination.
• Emergent Biosolutions (EBS) files S-4 in connection with acquisition of Trubion Pharmaceuticals (TRBN).
• Enterprise Products (EPD) files S-4 in connection with merger with Enterprise GP (EPE).
• Boots & Coots (WEL) shareholders approve merger with Halliburton (HAL). 
• Micrus Endovascular (MEND) shareholders approve merger with Johnson & Johnson (JNJ).
• Mainland Resources (MNLU.OB) and American Exploration (AEXP) announce extension on merger until Dec 31 from Sep 30. 
• Naugatuck Valley (NVSL) lowers offer for Southern Connecticut (SSE) to $6.75 from $7.25 because of the weak stock market since the deal announcement.
• Note that Pet DrX (VETS.PK) and Pinnacle Gas (PINN.PK) moved to the pink sheets this week.

To Read:

• For those that like to speculate: The 15 Top Tech Takeover Targets
• Barrons: Rumor-trage