Sunday, February 20, 2011

Merger Arbitrage Spreads February 21, 2011

The latest stock merger arbitrage spreads:

Target Ticker Acquirer Ticker Current Price Take Over
Price
Price Diff % Diff Date
Announced
Deal Type
AirTran Holdings Inc AAI Southwest Airlines Co LUV $7.42 $7.75 0.33 4.45% 9/27/2010 C&S
Abington Community Bancorp Inc ABBC Susquehanna Bancshares Inc SUSQ $13.16 $13.35 0.19 1.41% 1/26/2011 Stock
Alberto Culver Co ACV Unilever ADR Reptg 1 Ord Shs UL $37.11 $37.50 0.39 1.05% 9/27/2010 Cash
American Exploration Corp AEXP Mainland Resources Incorporated MNLU $0.1700 $0.2000 0.03 17.65% 3/23/2010 Stock
AML Communications Inc AMLJ Anaren Inc ANEN $2.08 $2.15 0.07 3.37% 2/14/2011 Cash
Answers Corp ANSW AFCV Holdings -- $10.70 $10.50 -0.20 -1.87% 2/3/2011 Cash
Arbinet Corp ARBX Primus Telecommunications Group Inc PMUG $9.14 $9.04 -0.10 -1.11% 11/11/2010 Stock
American Surgical Hldg
Inc
ASRG Great Point Partners -- $2.89 $2.87 -0.02 -0.69% 12/21/2010 Cash
Atheros Communications Inc ATHR Qualcomm Inc QCOM $44.68 $45.00 0.32 0.72% 1/5/2011 Cash
Allegheny Energy Inc AYE FirstEnergy Corp FE $25.01 $25.28 0.27 1.08% 2/11/2010 Stock
Beckman Coulter Inc BEC Danaher Corp DHR $82.97 $83.50 0.53 0.64% 2/7/2011 Cash
BMP Sunstone Corp BJGP Sanofi Aventis ADR Each Representing One Half Of One Ord Shs SNY $9.97 $10.00 0.03 0.30% 10/28/2010 Cash
Bucyrus International Inc BUCY Caterpillar Inc CAT $91.05 $92.00 0.95 1.04% 11/15/2010 Cash
Cadence Financial Corp CADE Community Bancorp -- $2.48 $2.50 0.02 0.81% 10/6/2010 Cash
Caprius Inc CAPI Vintage Capital Group -- $0.0600 $0.0650 $0.0050 8.33% 11/11/2010 Cash
Capital Gold Corp CGC Gammon Gold Incorporated GRS $5.65 $5.62 -0.03 -0.46% 10/7/2010 C&S
Center Financial Corp CLFC Nara Bancorp Inc NARA $7.99 $8.16 0.17 2.17% 11/9/2010 Stock
Compellent Technologies Inc CML Dell Inc DELL $27.73 $27.75 0.02 0.07% 12/13/2010 Cash
Conexant Systems Inc CNXT Standard Microsystems Corp SMSC $2.49 $2.15 -0.34 -13.84% 1/10/2011 C&S
All American Group Inc COHM American Group Holding -- $0.2400 $0.2000 -0.04 -16.67% 11/8/2010 Cash
CPEX Pharmaceuticals Inc CPEX Footstar Corp -- $27.15 $27.25 0.10 0.37% 1/4/2011 Cash
Crucell ADR Reptg 1 Ord Shs CRXL Johnson & Johnson JNJ $33.52 $33.91 0.39 1.15% 10/6/2010 Cash
Dynamex Inc DDMX TransForce Inc -- $24.98 $25.00 0.02 0.08% 10/1/2010 Cash
Del Monte Foods Co DLM Kohlberg Kravis Roberts -- $18.94 $19.00 0.06 0.32% 11/25/2010 Cash
Danvers Bancorp Inc DNBK PeopleS United Financial Inc PBCT $22.08 $22.31 0.23 1.04% 1/20/2011 C&S
Dionex Corp DNEX Thermo Fisher Scientific Inc TMO $117.75 $118.50 0.75 0.64% 12/13/2010 Cash
Dynegy Incorporated DYN Icahn Enterprises LP IEP $6.01 $5.50 -0.51 -8.49% 12/15/2010 Cash
Emergency Medical Services Corp EMS Clayton, Dubilier & Rice, LLC -- $63.15 $64.00 0.85 1.35% 2/14/2011 Cash
Endwave Corp ENWV Gigoptix Inc GGOX $2.87 $3.25 0.38 13.27% 2/7/2011 Stock
First Franklin Corp FFHS Cheviot Financial Corp CHEV $14.40 $14.50 0.10 0.69% 10/13/2010 Cash
First Ipswich Bancorp FIWC Brookline Bancorp Inc BRKL $8.10 $8.10 0.00 0.00% 10/27/2010 Cash
Capital Bank & Trust Company FOFC Chemung Financial Corp CHMG $7.50 $8.31 0.81 10.74% 10/15/2010 C&S
Nicor Inc GAS AGL Resources Inc AGL $53.07 $53.72 0.65 1.23% 12/7/2010 C&S
Genzyme Corp GENZ Sanofi Aventis ADR Each Representing One Half Of One Ord Shs SNY $75.38 $74.00 -1.38 -1.83% 2/16/2011 Cash
The Wilber Corp GIW Community Bank System Inc CBU $9.40 $9.50 0.10 1.06% 10/25/2010 C&S
Genoptix Inc GXDX Novartis -- $24.98 $25.00 0.02 0.08% 1/24/2011 Cash
Hudson Holding Corp HDHL Rodman & Renshaw Capital Group Inc RODM $0.0600 $0.0761 0.02 26.75% 1/5/2011 Stock
Herley Industries Inc HRLY Kratos Defense and Security Solutions Inc KTOS $18.95 $19.00 0.05 0.26% 2/7/2011 Cash
Hughes Communications Inc HUGH EchoStar Corp SATS $59.87 $60.70 0.83 1.39% 2/14/2011 Cash
Hypercom Corp HYC Verifone Systems Inc PAY $10.40 $10.78 0.38 3.63% 11/17/2010 Stock
L 1 Identity Solutions
Inc
ID Safran -- $11.92 $12.00 0.08 0.67% 9/20/2010 Cash
Jo-Ann Stores Inc JAS Leonard Green & Partners -- $60.67 $61.00 0.33 0.54% 12/23/2010 Cash
J Crew Group Inc JCG TPG Capital and Leonard Green & Partners -- $43.63 $43.50 -0.13 -0.30% 11/23/2010 Cash
LaBranche & Co Inc LAB Cowen Group Incorporated COWN $4.24 $4.29 0.05 1.21% 2/17/2011 Stock
Ladish Co Inc LDSH Allegheny Technologies Inc ATI $54.84 $55.22 0.38 0.69% 11/17/2010 C&S
Legacy Bancorp Inc LEGC Berkshire Hills Bancorp Inc BHLB $13.60 $14.08 0.48 3.55% 12/22/2010 C&S
LTX Credence Corp LTXC Verigy Ltd VRGY $9.60 $13.19 3.59 37.40% 11/18/2010 Stock
Emergent Group Inc LZR Universal Hospital Services -- $8.40 $8.46 0.06 0.71% 2/7/2011 Cash
Majestic Capital Ltd MAJC Bayside Capital Partners -- $4.17 $4.50 0.33 7.91% 9/21/2010 Cash
Martek Biosciences Corp MATK Royal DSM N.V. -- $31.45 $31.50 0.05 0.16% 12/21/2010 Cash
Mediacom Communications Corp MCCC CEO, Rocco B. Commisso -- $8.78 $8.75 -0.03 -0.34% 11/15/2010 Cash
Midcarolina Financial Corp MCFI American National Bankshares Inc AMNB $6.33 $7.32 0.99 15.68% 12/16/2010 Stock
Massey Energy Co MEE Alpha Natural Resources
Inc
ANR $64.28 $66.51 2.23 3.47% 1/31/2011 C&S
McAfee Inc MFE Intel Corp INTC $47.91 $48.00 0.09 0.19% 8/19/2010 Cash
Microfluidics International Corp MFLU IDEX Corp IEX $1.33 $1.35 0.02 1.50% 1/11/2011 Cash
Marshall and Ilsley Corp MI Bank Of Montreal BMO $7.57 $7.82 0.25 3.37% 12/17/2010 Stock
Mercer Insurance Group Inc MIGP United Fire & Casualty Co UFCS $28.14 $28.25 0.11 0.39% 12/1/2010 Cash
Newalliance Bancshares
Inc
NAL First Niagara Financial Group Inc FNFG $16.07 $16.25 0.18 1.09% 8/19/2010 C&S
Navisite Incorporated NAVI Time Warner Cable Inc TWC $5.47 $5.50 0.03 0.55% 2/1/2011 Cash
NGAS Resources Inc NGAS Magnum Hunter Resources Corp MHR $0.5400 $0.5694 0.03 5.44% 12/27/2010 Stock
NovaMed Inc (Illinois) NOVA Surgery Center Holdings -- $13.21 $13.25 0.04 0.30% 1/21/2011 Cash
Novell Inc NOVL Attachmate Corp (Francisco Partners, Golden Gate Capital and
Thoma Bravo)
-- $5.95 $6.10 0.15 2.52% 11/22/2010 Cash
North Penn Bancorp Inc (New) NPBP Norwood Financial Corp NWFL $17.90 $18.76 0.86 4.83% 12/15/2010 C&S
NStar NST Northeast Utilities NU $44.35 $43.87 -0.48 -1.07% 10/18/2010 Stock
Nuloch Resources Inc NULCF Magnum Hunter Resources Corp MHR $2.19 $2.22 0.03 1.53% 1/18/2011 Stock
Occam Networks Inc OCNW Calix Inc CALX $9.40 $9.44 0.04 0.37% 9/16/2010 C&S
Pride International Inc PDE ENSCO PLC ESV $40.25 $41.06 0.81 2.02% 2/7/2011 C&S
Progress Energy Inc PGN Duke Energy Corp DUK $45.70 $46.87 1.17 2.56% 1/10/2011 Stock
Playboy Enterprises Inc PLA Insiders -- $6.12 $6.15 0.03 0.49% 1/10/2011 Cash
Playboy Enterprises Inc PLA.A Insiders -- $6.12 $6.15 0.03 0.49% 1/10/2011 Cash
ProLogis PLD AMB Property Corp AMB $15.87 $15.80 -0.07 -0.42% 1/31/2011 Stock
Pennichuck Corp PNNW City of Nashua -- $27.99 $29.00 1.01 3.61% 11/12/2010 Cash
Pre-Paid Legal Services Inc PPD MidOcean Partners -- $66.16 $66.50 0.34 0.51% 2/1/2011 Cash
Penn Virginia GP Holdings L P PVG Penn Virginia Resource Partners L P PVR $26.61 $28.05 1.44 5.40% 9/21/2010 Stock
Qwest Communications International Incorporated Q CenturyLink Inc CTL $6.79 $6.86 0.07 1.04% 4/22/2010 Stock
RAE Systems Inc RAE Vector Capital -- $1.73 $1.75 0.02 1.16% 1/18/2011 Cash
Rehabcare Group Inc RHB Kindred Healthcare Inc KND $37.23 $37.84 0.61 1.64% 2/8/2011 C&S
Rome Bancorp Inc ROME Berkshire Hills Bancorp Inc BHLB $12.29 $12.35 0.06 0.52% 10/12/2010 C&S
Retail Ventures Inc RVI Dsw Inc DSW $17.62 $17.78 0.16 0.92% 2/8/2011 Stock
Sterling Bancshares Inc SBIB Comerica Inc CMA $9.19 $9.38 0.19 2.04% 1/18/2011 Stock
Smurfit Stone Container Corp SSCC Rock Tenn Co RKT $39.17 $39.01 -0.16 -0.42% 1/24/2011 C&S
Silverleaf Resorts Inc SVLF Cerberus Capital Management -- $2.47 $2.50 0.03 1.21% 2/9/2011 Cash
Tongjitang Chinese Medicines Co TCM Insiders -- $4.36 $4.50 0.14 3.21% 11/1/2010 Cash
Talecris Biotherapeutics Holdings Corp TLCR Grifols SA GIFLF $25.50 $29.70 4.20 16.47% 6/7/2010 C&S
Terremark Worldwide Inc TMRK Verizon Communications Inc VZ $18.95 $19.00 0.05 0.26% 1/27/2011 Cash
Union National Financial Corp UNNF Donegal Group Inc DGICA $6.90 $8.25 1.35 19.57% 4/20/2010 C&S
US 1 Industries Inc USOO CEO & CFO -- $1.41 $1.43 0.02 1.42% 2/18/2011 Cash
VCG Holding Corp VCGH Insiders -- $2.21 $2.25 0.04 1.81% 11/10/2010 Cash
Wimm-Bill-Dann Foods WBD Pepsico Inc PEP $32.44 $33.30 0.86 2.66% 2/3/2011 Cash
Wilmington Trust Corporation WL M&t Bank Corp MTB $4.62 $4.68 0.06 1.20% 11/1/2010 Stock
Wesco Financial Corp WSC Berkshire Hathaway Ord Shs Class B BRK.B $391.18 $390.50 -0.68 -0.17% 2/7/2011 Cash
Whitney Holding Corp WTNY Hancock Holding Co HBHC $14.35 $14.72 0.37 2.59% 12/22/2010 Stock
Xeta Technologies Inc XETA PAETEC Holding Corp PAET $5.43 $5.50 0.07 1.29% 2/9/2011 Cash

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