Sunday, March 20, 2011

Merger Arbitrage Spreads March 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 $7.30 $7.67 0.37 5.02% 9/27/2010 C&S
Abington Community Bancorp Inc ABBC Susquehanna Bancshares Inc SUSQ $11.68 $11.77 0.09 0.81% 1/26/2011 Stock
Alberto Culver Co ACV Unilever ADR Reptg 1 Ord Shs UL $37.20 $37.50 0.30 0.81% 9/27/2010 Cash
American Exploration Corp AEXP Mainland Resources Incorporated MNLU $0.1400 $0.1400 0.00 0.00% 3/23/2010 Stock
Animal Health International Inc AHII Lextron and Leonard Green & Partners -- $4.21 $4.25 0.04 0.95% 3/14/2011 Cash
AML Communications Inc AMLJ Anaren Inc ANEN $2.11 $2.15 0.04 1.90% 2/14/2011 Cash
Answers Corp ANSW AFCV Holdings -- $10.42 $10.50 0.08 0.77% 2/3/2011 Cash
America Service Group Inc ASGR Valitás Health Services -- $25.68 $26.00 0.32 1.25% 3/3/2011 Cash
American Surgical Hldg
Inc
ASRG Great Point Partners -- $2.86 $2.87 0.01 0.35% 12/21/2010 Cash
Atheros Communications Inc ATHR Qualcomm Inc QCOM $44.53 $45.00 0.47 1.06% 1/5/2011 Cash
Beckman Coulter Inc BEC Danaher Corp DHR $82.86 $83.50 0.64 0.77% 2/7/2011 Cash
Bucyrus International Inc BUCY Caterpillar Inc CAT $91.10 $92.00 0.90 0.99% 11/15/2010 Cash
Caprius Inc CAPI Vintage Capital Group -- $0.0600 $0.0650 $0.0050 8.33% 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 $34.15 $36.23 2.08 6.09% 3/10/2011 C&S
Capital Gold Corp CGC Gammon Gold Incorporated GRS $5.46 $5.61 0.15 2.68% 10/7/2010 C&S
Clinical Data Inc CLDA Forest Laboratories Inc FRX $30.53 $30.00 -0.53 -1.74% 2/22/2011 Cash
Center Financial Corp CLFC Nara Bancorp Inc NARA $7.16 $7.21 0.05 0.71% 11/9/2010 Stock
Conexant Systems Inc CNXT Golden Gate Capital -- $2.37 $2.40 0.03 1.27% 2/23/2011 Cash
All American Group Inc COHM American Group Holding -- $0.2500 $0.2000 -0.05 -20.00% 11/8/2010 Cash
CaraCo Pharmaceutical Laboratories Ltd CPD Sun Pharma (Majority Holder) -- $5.21 $5.25 0.04 0.77% 2/22/2011 Cash
CPEX Pharmaceuticals Inc CPEX Footstar Corp -- $27.55 $27.25 -0.30 -1.09% 1/4/2011 Cash
Crucell ADR Reptg 1 Ord Shs CRXL Johnson & Johnson JNJ $34.90 $35.11 0.21 0.59% 10/6/2010 Cash
Danvers Bancorp Inc DNBK PeopleS United Financial Inc PBCT $21.35 $21.48 0.13 0.61% 1/20/2011 C&S
Dionex Corp DNEX Thermo Fisher Scientific Inc TMO $117.60 $118.50 0.90 0.77% 12/13/2010 Cash
EnergyConnect Group Inc ECNG Johnson Controls Inc JCI $0.2200 $0.2253 0.01 2.41% 3/7/2011 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 $2.62 $2.76 0.14 5.45% 2/7/2011 Stock
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 $8.00 $8.24 0.24 2.95% 10/15/2010 C&S
Frontier Oil Corp FTO Holly Corp HOC $26.34 $26.50 0.16 0.60% 2/22/2011 Stock
Nicor Inc GAS AGL Resources Inc AGL $52.81 $53.80 0.99 1.87% 12/7/2010 C&S
Genzyme Corp GENZ Sanofi Aventis ADR Each Representing One Half Of One Ord Shs SNY $75.59 $74.00 -1.59 -2.10% 2/16/2011 Cash
The Wilber Corp GIW Community Bank System Inc CBU $9.35 $9.50 0.15 1.60% 10/25/2010 C&S
Global Defense Technology & Systems Inc GTEC Ares Management LLC -- $24.23 $24.25 0.02 0.08% 3/3/2011 Cash
Hudson Holding Corp HDHL Rodman & Renshaw Capital Group Inc RODM $0.0500 $0.0662 0.02 32.50% 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 $59.59 $60.70 1.11 1.86% 2/14/2011 Cash
Hypercom Corp HYC Verifone Systems Inc PAY $11.06 $11.68 0.62 5.64% 11/17/2010 Stock
L 1 Identity Solutions
Inc
ID Safran -- $11.84 $12.00 0.16 1.35% 9/20/2010 Cash
K-SEA Transportation Partners LP KSP Kirby Corp KEX $8.09 $8.07 -0.02 -0.31% 3/14/2011 C&S
LaBranche & Co Inc LAB Cowen Group Incorporated COWN $3.95 $3.99 0.04 1.06% 2/17/2011 Stock
Ladish Co Inc LDSH Allegheny Technologies Inc ATI $51.40 $51.74 0.34 0.66% 11/17/2010 C&S
Legacy Bancorp Inc LEGC Berkshire Hills Bancorp Inc BHLB $13.07 $13.23 0.16 1.23% 12/22/2010 C&S
LTX Credence Corp LTXC Verigy Ltd VRGY $8.45 $12.24 3.79 44.85% 11/18/2010 Stock
Lubrizol Corp LZ Berkshire Hathaway Ord Shs Class B BRK.B $133.75 $135.00 1.25 0.93% 3/14/2011 Cash
Emergent Group Inc LZR Universal Hospital Services -- $8.44 $8.46 0.02 0.24% 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 $6.50 $7.06 0.56 8.54% 12/16/2010 Stock
Massey Energy Co MEE Alpha Natural Resources
Inc
ANR $62.13 $66.66 4.53 7.29% 1/31/2011 C&S
Marshall and Ilsley Corp MI Bank Of Montreal BMO $7.64 $7.88 0.24 3.19% 12/17/2010 Stock
Mercer Insurance Group Inc MIGP United Fire & Casualty Co UFCS $28.24 $28.25 0.01 0.04% 12/1/2010 Cash
Newalliance Bancshares
Inc
NAL First Niagara Financial Group Inc FNFG $15.10 $15.22 0.12 0.82% 8/19/2010 C&S
Navisite Incorporated NAVI Time Warner Cable Inc TWC $5.46 $5.50 0.04 0.73% 2/1/2011 Cash
NGAS Resources Inc NGAS Magnum Hunter Resources Corp MHR $0.5600 $0.6040 0.04 7.86% 12/27/2010 Stock
Nationwide Health Properties Inc NHP Ventas Inc VTR $40.73 $41.15 0.42 1.02% 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 -- $13.22 $13.25 0.03 0.23% 1/21/2011 Cash
Novell Inc NOVL Attachmate Corp (Francisco Partners, Golden Gate Capital and
Thoma Bravo)
-- $5.80 $6.10 0.30 5.17% 11/22/2010 Cash
North Penn Bancorp Inc (New) NPBP Norwood Financial Corp NWFL $17.90 $18.59 0.69 3.88% 12/15/2010 C&S
NStar NST Northeast Utilities NU $44.62 $44.18 -0.44 -1.00% 10/18/2010 Stock
Nuloch Resources Inc NULCF Magnum Hunter Resources Corp MHR $2.32 $2.36 0.04 1.68% 1/18/2011 Stock
Omni Bancshares Inc OMBA IBERIABANK Corp IBKC $15.25 $18.69 3.44 22.53% 2/22/2011 Stock
Pride International Inc PDE ENSCO PLC ESV $41.69 $42.22 0.53 1.27% 2/7/2011 C&S
Progress Energy Inc PGN Duke Energy Corp DUK $44.20 $46.06 1.86 4.20% 1/10/2011 Stock
ProLogis PLD AMB Property Corp AMB $14.78 $14.91 0.13 0.85% 1/31/2011 Stock
Pennichuck Corp PNNW City of Nashua -- $28.46 $29.00 0.54 1.90% 11/12/2010 Cash
Pre-Paid Legal Services Inc PPD MidOcean Partners -- $65.78 $66.50 0.72 1.09% 2/1/2011 Cash
Qwest Communications International Inc Q CenturyLink Inc CTL $6.93 $6.96 0.03 0.44% 4/22/2010 Stock
RAE Systems Inc RAE Vector Capital -- $1.79 $1.75 -0.04 -2.23% 1/18/2011 Cash
RC2 Corp RCRC Tomy Company -- $28.35 $27.90 -0.45 -1.59% 3/11/2011 Cash
Rehabcare Group Inc RHB Kindred Healthcare Inc KND $36.25 $36.80 0.55 1.53% 2/8/2011 C&S
Rome Bancorp Inc ROME Berkshire Hills Bancorp Inc BHLB $11.65 $11.76 0.11 0.91% 10/12/2010 C&S
Retail Ventures Inc RVI Dsw Inc DSW $16.20 $16.70 0.50 3.11% 2/8/2011 Stock
Sterling Bancshares
Inc
SBIB Comerica Inc CMA $8.80 $8.94 0.14 1.56% 1/18/2011 Stock
Smurfit Stone Container Corp SSCC Rock Tenn Co RKT $37.69 $37.77 0.08 0.20% 1/24/2011 C&S
Silverleaf Resorts Inc SVLF Cerberus Capital Management -- $2.43 $2.50 0.07 2.88% 2/9/2011 Cash
Tongjitang Chinese Medicines Co TCM Insiders -- $4.34 $4.50 0.16 3.69% 11/1/2010 Cash
Talecris Biotherapeutics Holdings Corp TLCR Grifols SA GIFLF $26.02 $29.81 3.79 14.57% 6/7/2010 C&S
Tollgrade Communications Inc TLGD Golden Gate Capital -- $10.03 $10.10 0.07 0.70% 2/25/2011 Cash
Terremark Worldwide Inc TMRK Verizon Communications Inc VZ $18.85 $19.00 0.15 0.80% 1/27/2011 Cash
TomoTherapy Inc TOMO Accuray Incorporated ARAY $4.55 $4.64 0.09 2.01% 3/7/2011 C&S
Union National Financial Corp UNNF Donegal Group Inc DGICA $6.60 $8.25 1.65 25.00% 4/20/2010 C&S
US 1 Industries Inc USOO CEO & CFO -- $1.38 $1.43 0.05 3.62% 2/18/2011 Cash
VCG Holding Corp VCGH Insiders -- $2.23 $2.25 0.02 0.90% 11/10/2010 Cash
Wimm-Bill-Dann Foods WBD Pepsico Inc PEP $32.94 $34.08 1.14 3.46% 2/3/2011 Cash
Wilmington Trust Corporation WL M&t Bank Corp MTB $4.40 $4.50 0.10 2.24% 11/1/2010 Stock
Wesco Financial Corp WSC Berkshire Hathaway Ord Shs Class B BRK.B $389.00 $392.91 3.91 1.01% 2/7/2011 Cash
Whitney Holding Corp WTNY Hancock Holding Co HBHC $13.19 $13.48 0.29 2.20% 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 $9.86 $10.95 1.09 11.08% 2/22/2011 Stock
Celera Corporation CRA Quest Diagnostics Inc DGX $8.40 $8.00 -0.40 -4.76% 3/18/2011 Cash

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