Monday, March 14, 2011

Merger Arbitrage Spreads March 14, 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 $7.45 $7.75 0.30 4.03% 9/27/2010 C&S
Abington Community Bancorp Inc ABBC Susquehanna Bancshares Inc SUSQ $11.97 $12.12 0.15 1.23% 1/26/2011 Stock
Alberto Culver Co ACV Unilever ADR Reptg 1 Ord Shs UL $37.25 $37.50 0.25 0.67% 9/27/2010 Cash
American Exploration Corp AEXP Mainland Resources Incorporated MNLU $0.1500 $0.1500 0.00 0.00% 3/23/2010 Stock
AML Communications Inc AMLJ Anaren Inc ANEN $2.10 $2.15 0.05 2.38% 2/14/2011 Cash
Answers Corp ANSW AFCV Holdings -- $10.47 $10.50 0.03 0.29% 2/3/2011 Cash
America Service Group Inc ASGR Valitás Health Services -- $25.72 $26.00 0.28 1.09% 3/3/2011 Cash
American Surgical Hldg
Inc
ASRG Great Point Partners -- $2.87 $2.87 0.00 0.00% 12/21/2010 Cash
Atheros Communications Inc ATHR Qualcomm Inc QCOM $44.77 $45.00 0.23 0.51% 1/5/2011 Cash
Beckman Coulter Inc BEC Danaher Corp DHR $82.99 $83.50 0.51 0.61% 2/7/2011 Cash
Bucyrus International Inc BUCY Caterpillar Inc CAT $90.93 $92.00 1.07 1.18% 11/15/2010 Cash
Caprius Inc CAPI Vintage Capital Group -- $0.0700 $0.0650 ($0.0050) -7.14% 11/11/2010 Cash
Cascade Financial Corp CASB Opus Bank -- $0.43 $0.45 0.02 4.65% 3/4/2011 Cash
CITADEL BROADCAST CDELA.PK Cumulus Media Inc CMLS $35.15 $37.00 1.85 5.26% 3/10/2011 C&S
Capital Gold Corp CGC Gammon Gold Incorporated GRS $5.36 $5.43 0.07 1.23% 10/7/2010 C&S
Clinical Data Inc CLDA Forest Laboratories Inc FRX $30.43 $30.00 -0.43 -1.41% 2/22/2011 Cash
Center Financial Corp CLFC Nara Bancorp Inc NARA $7.36 $7.49 0.13 1.79% 11/9/2010 Stock
Conexant Systems Inc CNXT Golden Gate Capital -- $2.38 $2.40 0.02 0.84% 2/23/2011 Cash
All American Group Inc COHM American Group Holding -- $0.2400 $0.2000 -0.04 -16.67% 11/8/2010 Cash
CaraCo Pharmaceutical Laboratories Ltd CPD Sun Pharma (Majority Holder) -- $5.20 $5.25 0.05 0.96% 2/22/2011 Cash
CPEX Pharmaceuticals Inc CPEX Footstar Corp -- $27.14 $27.25 0.11 0.41% 1/4/2011 Cash
Crucell ADR Reptg 1 Ord Shs CRXL Johnson & Johnson JNJ $34.30 $34.56 0.26 0.75% 10/6/2010 Cash
Danvers Bancorp Inc DNBK PeopleS United Financial Inc PBCT $21.36 $21.56 0.20 0.93% 1/20/2011 C&S
Dionex Corp DNEX Thermo Fisher Scientific Inc TMO $117.69 $118.50 0.81 0.69% 12/13/2010 Cash
EnergyConnect Group Inc ECNG Johnson Controls Inc JCI $0.2100 $0.2253 0.02 7.29% 3/7/2011 Cash
Emergency Medical Services Corp EMS Clayton, Dubilier & Rice, LLC -- $63.54 $64.00 0.46 0.72% 2/14/2011 Cash
Endwave Corp ENWV Gigoptix Inc GGOX $2.65 $2.85 0.20 7.73% 2/7/2011 Stock
First Franklin Corp FFHS Cheviot Financial Corp CHEV $14.45 $14.50 0.05 0.35% 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 $7.70 $8.30 0.60 7.83% 10/15/2010 C&S
Frontier Oil Corp FTO Holly Corp HOC $26.61 $26.64 0.03 0.13% 2/22/2011 Stock
Nicor Inc GAS AGL Resources Inc AGL $53.19 $53.89 0.70 1.32% 12/7/2010 C&S
Genzyme Corp GENZ Sanofi Aventis ADR Each Representing One Half Of One Ord Shs SNY $75.99 $74.00 -1.99 -2.62% 2/16/2011 Cash
The Wilber Corp GIW Community Bank System Inc CBU $9.39 $9.50 0.11 1.17% 10/25/2010 C&S
Global Defense Technology & Systems Inc GTEC Ares Management LLC -- $24.21 $24.25 0.04 0.17% 3/3/2011 Cash
Hudson Holding Corp HDHL Rodman & Renshaw Capital Group Inc RODM $0.0500 $0.0723 0.02 44.66% 1/5/2011 Stock
Herley Industries Inc HRLY Kratos Defense and Security Solutions Inc KTOS $18.96 $19.00 0.04 0.21% 2/7/2011 Cash
Hughes Communications
Inc
HUGH EchoStar Corp SATS $59.66 $60.70 1.04 1.74% 2/14/2011 Cash
Hypercom Corp HYC Verifone Systems Inc PAY $10.77 $11.27 0.50 4.64% 11/17/2010 Stock
L 1 Identity Solutions
Inc
ID Safran -- $11.93 $12.00 0.07 0.59% 9/20/2010 Cash
Jo-Ann Stores Inc JAS Leonard Green & Partners -- $60.89 $61.00 0.11 0.18% 12/23/2010 Cash
LaBranche & Co Inc LAB Cowen Group Incorporated COWN $4.00 $4.08 0.08 2.05% 2/17/2011 Stock
Ladish Co Inc LDSH Allegheny Technologies Inc ATI $52.83 $53.24 0.41 0.77% 11/17/2010 C&S
Legacy Bancorp Inc LEGC Berkshire Hills Bancorp Inc BHLB $13.32 $13.61 0.29 2.17% 12/22/2010 C&S
LTX Credence Corp LTXC Verigy Ltd VRGY $8.35 $12.99 4.64 55.55% 11/18/2010 Stock
Emergent Group Inc LZR Universal Hospital Services -- $8.43 $8.46 0.03 0.36% 2/7/2011 Cash
Majestic Capital Ltd MAJC Bayside Capital Partners -- $4.32 $4.50 0.18 4.17% 9/21/2010 Cash
Midcarolina Financial Corp MCFI American National Bankshares Inc AMNB $6.60 $6.76 0.16 2.40% 12/16/2010 Stock
Massey Energy Co MEE Alpha Natural Resources
Inc
ANR $59.63 $62.37 2.74 4.59% 1/31/2011 C&S
Marshall and Ilsley Corp MI Bank Of Montreal BMO $7.74 $7.95 0.21 2.72% 12/17/2010 Stock
Mercer Insurance Group Inc MIGP United Fire & Casualty Co UFCS $28.22 $28.25 0.03 0.11% 12/1/2010 Cash
Newalliance Bancshares
Inc
NAL First Niagara Financial Group Inc FNFG $15.13 $15.22 0.09 0.62% 8/19/2010 C&S
Navisite Incorporated NAVI Time Warner Cable Inc TWC $5.49 $5.50 0.01 0.18% 2/1/2011 Cash
NGAS Resources Inc NGAS Magnum Hunter Resources Corp MHR $0.5800 $0.6015 0.02 3.71% 12/27/2010 Stock
Nationwide Health Properties Inc NHP Ventas Inc VTR $41.16 $41.61 0.45 1.10% 2/28/2011 Stock
National Investment Managers Inc NIVM Stonehenge Opportunity Fund III -- $0.0200 $0.02 0.00 0.00% 3/8/2011 Cash
NovaMed Inc (Illinois) NOVA Surgery Center Holdings -- $13.16 $13.25 0.09 0.68% 1/21/2011 Cash
Novell Inc NOVL Attachmate Corp (Francisco Partners, Golden Gate Capital and
Thoma Bravo)
-- $5.83 $6.10 0.27 4.63% 11/22/2010 Cash
North Penn Bancorp Inc (New) NPBP Norwood Financial Corp NWFL $17.66 $18.88 1.22 6.89% 12/15/2010 C&S
NStar NST Northeast Utilities NU $45.68 $45.33 -0.35 -0.77% 10/18/2010 Stock
Nuloch Resources Inc NULCF Magnum Hunter Resources Corp MHR $2.31 $2.35 0.04 1.69% 1/18/2011 Stock
Omni Bancshares Inc OMBA IBERIABANK Corp IBKC $15.25 $18.53 3.28 21.48% 2/22/2011 Stock
Pride International Inc PDE ENSCO PLC ESV $41.49 $41.99 0.50 1.20% 2/7/2011 C&S
Progress Energy Inc PGN Duke Energy Corp DUK $46.33 $48.15 1.82 3.92% 1/10/2011 Stock
ProLogis PLD AMB Property Corp AMB $15.45 $15.60 0.15 0.98% 1/31/2011 Stock
Pennichuck Corp PNNW City of Nashua -- $28.09 $29.00 0.91 3.24% 11/12/2010 Cash
Pre-Paid Legal Services Inc PPD MidOcean Partners -- $65.95 $66.50 0.55 0.83% 2/1/2011 Cash
Qwest Communications International Inc Q CenturyLink Inc CTL $6.68 $6.73 0.05 0.76% 4/22/2010 Stock
RAE Systems Inc RAE Vector Capital -- $1.76 $1.75 -0.01 -0.57% 1/18/2011 Cash
RC2 Corp RCRC Tomy Company -- $28.31 $27.90 -0.41 -1.45% 3/11/2011 Cash
Rehabcare Group Inc RHB Kindred Healthcare Inc KND $37.23 $37.76 0.53 1.43% 2/8/2011 C&S
Rome Bancorp Inc ROME Berkshire Hills Bancorp Inc BHLB $12.03 $12.02 -0.01 -0.07% 10/12/2010 C&S
Retail Ventures Inc RVI Dsw Inc DSW $17.80 $17.97 0.17 0.93% 2/8/2011 Stock
Sterling Bancshares
Inc
SBIB Comerica Inc CMA $9.12 $9.26 0.14 1.50% 1/18/2011 Stock
Smurfit Stone Container Corp SSCC Rock Tenn Co RKT $37.37 $37.50 0.13 0.34% 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 -- $4.41 $4.50 0.09 2.04% 11/1/2010 Cash
Talecris Biotherapeutics Holdings Corp TLCR Grifols SA GIFLF $26.27 $30.00 3.73 14.19% 6/7/2010 C&S
Tollgrade Communications Inc TLGD Golden Gate Capital -- $10.01 $10.10 0.09 0.90% 2/25/2011 Cash
Terremark Worldwide Inc TMRK Verizon Communications Inc VZ $18.97 $19.00 0.03 0.16% 1/27/2011 Cash
TomoTherapy Inc TOMO Accuray Incorporated ARAY $4.60 $4.62 0.02 0.44% 3/7/2011 C&S
Union National Financial Corp UNNF Donegal Group Inc DGICA $6.75 $8.25 1.50 22.22% 4/20/2010 C&S
US 1 Industries Inc USOO CEO & CFO -- $1.39 $1.43 0.04 2.88% 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 $33.15 $33.98 0.83 2.51% 2/3/2011 Cash
Wilmington Trust Corporation WL M&t Bank Corp MTB $4.46 $4.51 0.05 1.02% 11/1/2010 Stock
Wesco Financial Corp WSC Berkshire Hathaway Ord Shs Class B BRK.B $391.85 $392.91 1.06 0.27% 2/7/2011 Cash
Whitney Holding Corp WTNY Hancock Holding Co HBHC $13.11 $13.41 0.30 2.25% 12/22/2010 Stock
Xeta Technologies Inc XETA PAETEC Holding Corp PAET $5.44 $5.50 0.06 1.10% 2/9/2011 Cash
Zoran Corp ZRAN CSR PLC CSRXF $9.91 $10.75 0.84 8.46% 2/22/2011 Stock

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