Monday, April 11, 2011

Merger Arbitrage Spreads April 11, 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 $7.32 $7.50 0.18 2.45% 9/27/2010 C&S
Abington Community Bancorp Inc ABBC Susquehanna Bancshares Inc SUSQ $12.38 $12.50 0.12 0.97% 1/26/2011 Stock
Alberto Culver Co ACV Unilever ADR Reptg 1 Ord Shs UL $37.26 $37.50 0.24 0.64% 9/27/2010 Cash
American Exploration Corp AEXP Mainland Resources Incorporated MNLU $0.1200 $0.1025 -0.02 -14.58% 3/23/2010 Stock
Animal Health International Inc AHII Lextron and Leonard Green & Partners -- $4.20 $4.25 0.05 1.19% 3/14/2011 Cash
AML Communications Inc AMLJ Microsemi Corp MSCC $2.50 $2.50 0.00 0.00% 4/6/2011 Cash
AML Communications Inc AMLJ Anaren Inc ANEN $2.50 $2.15 -0.35 -14.00% 2/14/2011 Cash
Answers Corp ANSW AFCV Holdings -- $10.46 $10.50 0.04 0.38% 2/3/2011 Cash
America Service Group Inc ASGR Valitás Health Services -- $25.78 $26.00 0.22 0.85% 3/3/2011 Cash
Atheros Communications Inc ATHR Qualcomm Inc QCOM $44.65 $45.00 0.35 0.78% 1/5/2011 Cash
Beckman Coulter Inc BEC Danaher Corp DHR $83.01 $83.50 0.49 0.59% 2/7/2011 Cash
Bucyrus International Inc BUCY Caterpillar Inc CAT $91.45 $92.00 0.55 0.60% 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 -- $0.42 $0.45 0.03 7.14% 3/4/2011 Cash
CITADEL BROADCAST CDELA.PK Cumulus Media Inc CMLS $34.25 $37.00 2.75 8.03% 3/10/2011 C&S
Capital Gold Corp CGC Gammon Gold Incorporated GRS $6.56 $6.56 0.00 -0.01% 10/7/2010 C&S
CardioGenesis Corp CGCP CryoLife Inc CRY $0.450 $0.457 0.01 1.56% 3/29/2011 Cash
Clinical Data Inc CLDA Forest Laboratories Inc FRX $30.42 $30.00 -0.42 -1.38% 2/22/2011 Cash
Center Financial Corp CLFC Nara Bancorp Inc NARA $7.31 $7.43 0.12 1.63% 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 -- $0.2300 $0.2000 -0.03 -13.04% 11/8/2010 Cash
Community Capital Corp CPBK Park Sterling Bank PSTB $3.16 $3.28 0.12 3.67% 3/30/2011 C&S
Chemspec International Ltd CPC Primavera Capital Management Ltd -- $7.50 $8.10 0.60 8.00% 3/21/2011 Cash
CaraCo Pharmaceutical Laboratories Ltd CPD Sun Pharma (Majority Holder) -- $5.21 $5.25 0.04 0.77% 2/22/2011 Cash
Celera Corporation CRA Quest Diagnostics Inc DGX $8.11 $8.00 -0.11 -1.36% 3/18/2011 Cash
Danvers Bancorp Inc DNBK PeopleS United Financial Inc PBCT $21.63 $21.85 0.22 1.04% 1/20/2011 C&S
Dionex Corp DNEX Thermo Fisher Scientific Inc TMO $117.85 $118.50 0.65 0.55% 12/13/2010 Cash
drugstore.com inc DSCM Walgreen Co WAG $3.85 $3.80 -0.05 -1.30% 3/24/2011 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 -- $63.65 $64.00 0.35 0.55% 2/14/2011 Cash
Endwave Corp ENWV Gigoptix Inc GGOX $2.34 $2.36 0.02 0.75% 2/7/2011 Stock
Epicor Software Corp EPIC Apax Partners -- $12.53 $12.50 -0.03 -0.24% 4/4/2011 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 $8.00 $8.17 0.17 2.11% 10/15/2010 C&S
Frontier Oil Corp FTO Holly Corp HOC $29.24 $28.91 -0.33 -1.13% 2/22/2011 Stock
Nicor Inc GAS AGL Resources Inc AGL $53.16 $54.28 1.12 2.11% 12/7/2010 C&S
The Wilber Corp GIW Community Bank System Inc CBU $9.60 $9.50 -0.10 -1.04% 10/25/2010 C&S
GSI Commerce Inc GSIC EBAY Inc EBAY $29.39 $29.25 -0.14 -0.48% 3/28/2011 Cash
GS Financial Corp GSLA Home Bancorp Inc HBCP $20.42 $21.00 0.58 2.84% 3/31/2011 Cash
Hughes Communications
Inc
HUGH EchoStar Corp SATS $59.64 $60.70 1.06 1.78% 2/14/2011 Cash
Hypercom Corp HYC Verifone Systems Inc PAY $11.38 $12.00 0.62 5.42% 11/17/2010 Stock
L 1 Identity Solutions
Inc
ID Safran -- $11.70 $12.00 0.30 2.56% 9/20/2010 Cash
Inspire Pharmaceuticals Inc ISPH Merck & Co Inc MRK $4.98 $5.00 0.02 0.40% 4/5/2011 Cash
K-SEA Transportation Partners LP KSP Kirby Corp KEX $8.16 $8.19 0.03 0.37% 3/14/2011 C&S
LaBranche & Co Inc LAB Cowen Group Incorporated COWN $3.98 $4.03 0.05 1.30% 2/17/2011 Stock
LaBarge Inc LB Ducommun Inc DCO $18.98 $19.25 0.27 1.42% 4/5/2011 Cash
Ladish Co Inc LDSH Allegheny Technologies Inc ATI $52.79 $52.98 0.19 0.35% 11/17/2010 C&S
Legacy Bancorp Inc LEGC Berkshire Hills Bancorp Inc BHLB $13.55 $13.90 0.35 2.60% 12/22/2010 C&S
Lubrizol Corp LZ Berkshire Hathaway Ord Shs Class B BRK.B $133.95 $135.00 1.05 0.78% 3/14/2011 Cash
Midcarolina Financial Corp MCFI American National Bankshares Inc AMNB $7.30 $7.81 0.51 7.05% 12/16/2010 Stock
Massey Energy Co MEE Alpha Natural Resources
Inc
ANR $66.66 $68.53 1.87 2.80% 1/31/2011 C&S
Marshall and Ilsley Corp MI Bank Of Montreal BMO $8.04 $8.21 0.17 2.11% 12/17/2010 Stock
MKS Inc MKSBF Parametric Technology Corp PMTC $27.17 $27.74 0.57 2.10% 4/7/2011 Cash
Newalliance Bancshares
Inc
NAL First Niagara Financial Group Inc FNFG $14.63 $14.89 0.26 1.80% 8/19/2010 C&S
Navisite Incorporated NAVI Time Warner Cable Inc TWC $5.48 $5.50 0.02 0.36% 2/1/2011 Cash
NGAS Resources Inc NGAS Magnum Hunter Resources Corp MHR $0.7000 $0.7123 0.01 1.76% 12/27/2010 Stock
Nationwide Health Properties Inc NHP Ventas Inc VTR $41.75 $42.12 0.37 0.89% 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 -- $13.20 $13.25 0.05 0.38% 1/21/2011 Cash
Novell Inc NOVL Attachmate Corp (Francisco Partners, Golden Gate Capital and
Thoma Bravo)
-- $6.03 $6.10 0.07 1.16% 11/22/2010 Cash
North Penn Bancorp Inc (New) NPBP Norwood Financial Corp NWFL $18.50 $19.12 0.62 3.35% 12/15/2010 C&S
National Semiconductor Corp NSM Texas Instruments Inc TXN $24.04 $25.00 0.96 3.99% 4/4/2011 Cash
NStar NST Northeast Utilities NU $45.60 $45.30 -0.30 -0.65% 10/18/2010 Stock
Nuloch Resources Inc NULCF Magnum Hunter Resources Corp MHR $2.66 $2.78 0.12 4.59% 1/18/2011 Stock
Omni Bancshares Inc OMBA IBERIABANK Corp IBKC $15.25 $19.82 4.57 30.00% 2/22/2011 Stock
Orchid Cellmark Incorporated ORCH Laboratory Corporation of America Holdings LH $2.76 $2.80 0.04 1.45% 4/6/2011 Cash
optionsXpress Holdings Inc OXPS The Charles Schwab Corp SCHW $18.50 $18.72 0.22 1.17% 3/21/2011 Stock
Pride International Inc PDE ENSCO PLC ESV $42.91 $43.17 0.26 0.61% 2/7/2011 C&S
Progress Energy Inc PGN Duke Energy Corp DUK $46.15 $48.10 1.95 4.22% 1/10/2011 Stock
ProLogis PLD AMB Property Corp AMB $15.71 $15.65 -0.06 -0.38% 1/31/2011 Stock
Pennichuck Corp PNNW City of Nashua -- $28.42 $29.00 0.58 2.04% 11/12/2010 Cash
Pre-Paid Legal Services Inc PPD MidOcean Partners -- $65.85 $66.50 0.65 0.99% 2/1/2011 Cash
RAE Systems Inc RAE Vector Capital -- $1.87 $1.88 0.01 0.53% 1/18/2011 Cash
RC2 Corp RCRC Tomy Company -- $27.90 $27.90 0.00 0.00% 3/11/2011 Cash
Rehabcare Group Inc RHB Kindred Healthcare Inc KND $37.13 $37.44 0.31 0.84% 2/8/2011 C&S
Rural/metro Corporation RURL Warburg Pincus -- $17.05 $17.25 0.20 1.17% 3/28/2011 Cash
Retail Ventures Inc RVI Dsw Inc DSW $18.56 $18.69 0.13 0.71% 2/8/2011 Stock
Sterling Bancshares
Inc
SBIB Comerica Inc CMA $8.85 $8.95 0.10 1.09% 1/18/2011 Stock
Spectrum Control Inc SPEC API Technologies Corp ATNY $19.73 $20.00 0.27 1.37% 3/29/2011 Cash
SRA International Inc SRX Providence Equity Partners -- $31.02 $31.25 0.23 0.74% 4/1/2011 Cash
Smurfit Stone Container Corp SSCC Rock Tenn Co RKT $38.02 $38.28 0.26 0.68% 1/24/2011 C&S
Silverleaf Resorts Inc SVLF Cerberus Capital Management -- $2.43 $2.50 0.07 2.88% 2/4/2011 Cash
Tongjitang Chinese Medicines Co TCM Insiders -- $4.47 $4.50 0.03 0.67% 11/1/2010 Cash
Tgc Industries Inc TGE Dawson Geophysical Co DWSN $7.65 $8.27 0.62 8.16% 3/21/2011 Stock
Talecris Biotherapeutics Holdings Corp TLCR Grifols SA GIFLF $27.15 $30.38 3.23 11.90% 6/7/2010 C&S
Tollgrade Communications Inc TLGD Golden Gate Capital -- $10.05 $10.10 0.05 0.50% 2/25/2011 Cash
Terremark Worldwide Inc TMRK Verizon Communications Inc VZ $18.99 $19.00 0.01 0.05% 1/27/2011 Cash
TomoTherapy Inc TOMO Accuray Incorporated ARAY $4.65 $4.71 0.06 1.38% 3/7/2011 C&S
Technology Research Corp TRCI Coleman Cable Inc CCIX $7.14 $7.20 0.06 0.84% 3/28/2011 Cash
Union National Financial Corp UNNF Donegal Group Inc DGICA $8.14 $8.25 0.11 1.35% 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 -- $2.22 $2.25 0.03 1.35% 11/10/2010 Cash
Verigy Ltd VRGY Advantest ADR Reptg 1 Ord Shs ATE $14.15 $15.00 0.85 6.01% 3/21/2011 Cash
Wimm-Bill-Dann Foods WBD Pepsico Inc PEP $33.85 $34.76 0.91 2.69% 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 $389.26 $389.01 -0.25 -0.06% 2/7/2011 Cash
Whitney Holding Corp WTNY Hancock Holding Co HBHC $13.75 $13.89 0.14 1.05% 12/22/2010 Stock
Xeta Technologies Inc XETA PAETEC Holding Corp PAET $5.46 $5.50 0.04 0.73% 2/9/2011 Cash
Zoran Corp ZRAN CSR PLC CSRXF $10.47 $11.69 1.22 11.67% 2/22/2011 Stock

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