Merger Arbitrage Spreads for Feb 16, 2010

Name	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Date Announced
ALLIED DEFENSE GR	ADG	Chemring Group	London	$7.16	0.14%	$7.25	0.09	1.26%	1/18/2010
Airvana Inc.	AIRV	72 Mobile Holdings	Private	$7.60	0.40%	$7.65	0.05	0.66%	12/18/2009
ALLIED CAP CORP	ALD	Ares Capital Corp	ARCC	$3.90	-0.76%	$3.93	0.03	0.83%	10/26/2009
AMICAS Inc.	AMCS	Thoma Bravo, LLC	Private	$5.35	0.38%	$5.35	0.00	0.00%	12/24/2009
ALLEGHENY ENERGY	AYE	FIRSTENERGY CP	FE	$22.72	-3.52%	$26.14	3.42	15.05%	2/11/2010
Bare Escentuals	BARE	Shiseido Co	--	$18.17	0.22%	$18.20	0.03	0.17%	1/15/2010
BLACK DECKER CP	BDK	STANLEY WORKS THE	SWK	$68.59	0.03%	$69.22	0.63	0.92%	11/2/2009
BioForm Medical	BFRM	Merz Pharma Group	Private	$5.48	0.74%	$5.45	-0.03	-0.55%	12/31/2009
BJ SERVICES CO	BJS	BAKER HUGHES INTL	BHI	$21.18	-0.47%	$21.31	0.13	0.60%	8/31/2009
BURLINGTN N SANTE	BNI	BERKSHIRE HATH HL	BRK-A	$100.21	-0.02%	$100.27	0.06	0.06%	11/3/2009
BPW ACQUISITION C	BPW	TALBOTS INC	TLB	$10.20	0.39%	$11.25	1.05	10.29%	12/8/2009
CF IND HLDGS INC	CF	AGRIUM INC.	AGU	$100.50	0.38%	$109.26	8.76	8.72%	2/25/2009
BRINK'S HOME SECU	CFL	TYCO INTL LTD SW	TYC	$40.83	0.17%	$42.50	1.67	4.09%	1/19/2010
Chattem Inc.	CHTT	SANOFI-AVENTIS SA	SNY	$93.49	0.01%	$93.50	0.01	0.01%	12/21/2009
COMSYS IT Partner	CITP	MANPOWER INC	MAN	$17.51	0.17%	$17.65	0.14	0.80%	2/2/2010
3Com Corporation	COMS	HEWLETT PACKARD C	HPQ	$7.54	-0.40%	$7.90	0.36	4.77%	11/12/2009
CARE INVESTMENT T	CRE	Liquidation	--	$8.37	1.09%	$8.00	-0.37	-4.42%	12/11/2009
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.76	0.12%	$35.00	0.24	0.69%	11/25/2009
ENCORE ACQUISITIO	EAC	DENBURY RES INC (	DNR	$49.42	0.06%	$50.00	0.58	1.17%	11/2/2009
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$10.10	1.00%	$11.71	1.61	15.90%	12/28/2009
FRANKLIN ELECTR P	FEP	Saunder Acquisition	Private	$2.48	0.00%	$2.50	0.02	0.81%	6/1/2009
FGX International	FGXI	Essilor	--	$19.73	0.05%	$19.75	0.02	0.10%	12/16/2009
FINANCIAL FED CP	FIF	People's United F	PBCT	$26.91	0.49%	$26.86	-0.05	-0.19%	11/23/2009
HEALTH FITNESS CO	FIT	Trustmark Mutual Holding Company	Private	$8.76	0.11%	$8.78	0.02	0.23%	1/21/2010
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$11.33	-2.41%	$12.91	1.58	13.95%	11/3/2009
FIRST LITCHFIELD	FLFL.OB	Union Savings Bank	Private	$14.60	0.00%	$15.00	0.40	2.74%	10/26/2009
FortuNet Inc.	FNET	Yuri Gaming Trust	--	$2.23	0.00%	$2.25	0.02	0.90%	11/23/2009
Republic First Ba	FRBK	Metro Bancorp In	METR	$4.11	0.24%	$4.59	0.48	11.60%	11/10/2008
CEDAR FAIR LP	FUN	Siddur Holdings	Private	$11.44	0.09%	$11.50	0.06	0.52%	12/16/2009
GLOBAL MED TECH I	GLOB.OB	HAEMONETICS CP	HAE	$1.21	0.83%	$1.22	0.01	0.83%	2/1/2010
GENESIS LEASE LIM	GLS	AERCAP HOLDINGS N	AER	$7.79	1.56%	$7.93	0.14	1.80%	9/18/2009
HALIFAX CP	HALX.PK	Global Equity Capital, LLC	Private	$1.18	0.00%	$1.20	0.02	1.69%	1/7/2010
HIGHBURY FINANCL	HBRF.OB	AFFILIATED MGRS G	AMG	$5.72	0.18%	$6.61	0.89	15.47%	12/14/2009
Home Diagnostics	HDIX	Nipro Corp	--	$11.52	0.09%	$11.50	-0.02	-0.17%	2/3/2010
Harleysville Nati	HNBC	First Niagara Fin	FNFG	$6.42	0.78%	$6.49	0.07	1.08%	7/27/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$7.75	0.39%	$7.85	0.10	1.27%	12/2/2009
INTERSTATE HTLS	IHR	Thayer Lodging Group	Private	$2.24	0.45%	$2.25	0.01	0.45%	12/18/2009
IOWA TELECOM SVCS	IWA	Windstream Corpor	WIN	$16.24	0.31%	$16.08	-0.16	-0.96%	11/24/2009
JAVELIN PHARMACEU	JAV	Myriad Pharmaceut	MYRX	$1.34	6.35%	$1.33	-0.01	-0.88%	12/18/2009
K-Tron Internatio	KTII	HILLENBRAND INC	HI	$149.30	-0.01%	$150.00	0.70	0.47%	1/11/2010
LODGIAN INC	LGN	Lone Star Funds	Private	$2.46	-0.40%	$2.50	0.04	1.63%	1/22/2010
STARLIMS Technolo	LIMS	ABBOTT LABORATORI	ABT	$13.94	0.07%	$14.00	0.06	0.43%	12/14/2009
NORTH ASIA INVEST	NHR	PACIFIC CITY FINL	PFCF.OB	$9.98	0.00%	$10.77	0.79	7.91%	1/14/2010
NRG ENERGY INC	NRG	EXELON CORPORATIO	EXC	$22.06	-0.72%	$23.60	1.54	6.97%	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.54	0.30	125.24%	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$25.00	0.00%	$26.55	1.55	6.20%	1/8/2010
ON2 TECHNOLOGIES	ONT	Google Inc.	GOOG	$0.69	1.47%	$0.68	-0.01	-1.00%	8/5/2009
PEPSIAMERICAS INC	PAS	PEPSICO INC	PEP	$29.48	-0.30%	$29.55	0.07	0.23%	8/4/2009
PEPSI BOTTLING GR	PBG	PEPSICO INC	PEP	$37.82	0.05%	$37.84	0.02	0.06%	8/4/2009
QuadraMed Corpora	QDHC	Francisco Partners	Private	$8.44	-0.12%	$8.50	0.06	0.71%	12/8/2009
IMS HEALTH INC	RX	TPG Capital & Canada Pension Plan	Private	$21.84	-0.05%	$22.00	0.16	0.73%	11/5/2009
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$18.00	0.11%	$18.70	0.70	3.89%	10/21/2009
SkillSoft plc	SKIL	SSI Investments	--	$11.03	13.01%	$10.80	-0.23	-2.09%	2/12/2010
SKYTERRA COMMUNIC	SKYT.OB	Harbinger Capital Partners	Private	$4.88	0.00%	$5.00	0.12	2.46%	9/23/2009
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.75	0.57%	$1.90	0.15	8.57%	10/12/2009
Silicon Storage T	SSTI	Microchip Technol	MCHP	$2.84	-0.35%	$2.85	0.01	0.35%	2/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.53	-1.85%	$0.60	0.07	13.21%	1/25/2010
MERIDIAN RES CP	TMR	Alta Mesa Holding	Private	$0.29	-5.00%	$0.29	0.01	1.75%	12/23/2009
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$2.73	-1.09%	$3.05	0.32	11.78%	11/12/2009
Varian Inc.	VARI	AGILENT TECH INC	A	$51.60	0.08%	$52.00	0.40	0.78%	7/26/2009
Western Sizzlin C	WEST	THE STEAK N SHAKE	SNS	$8.99	0.00%	$8.07	-0.92	-10.22%	10/22/2009
Waste Services I	WSII	IESI-BFC LTD	BIN	$9.43	-0.63%	$9.59	0.16	1.69%	11/12/2009
XTO ENERGY INC	XTO	EXXON MOBIL CP	XOM	$45.63	0.02%	$46.00	0.37	0.80%	12/14/2009
ZiLOG Inc.	ZILG	IXYS Corporation	IXYS	$3.58	0.28%	$3.59	0.01	0.16%	12/7/2009
Zareba Systems I	ZRBA	Woodstream	--	$8.70	-0.21%	$9.00	0.30	3.45%	1/11/2010