Merger Arbitrage Spreads for Mar 29, 2010

Target	Ticker	Acquirer	Ticker	Current Price	Day Change	Take Over Price	Price Diff	% Diff	Date Announced
The Allied Defens	ADG	Chemring Group	Private	$7.18	-0.14%	$7.25	0.07	0.97%	1/18/2010
AMERICAN EXPLORAT	AEXP.OB	MAINLAND RESOURCE	MNLU.OB	$0.34	6.25%	$0.35	0.00	1.47%	3/23/2010
Airvana Inc.	AIRV	72 Mobile Holdings	Private	$7.71	0.13%	$7.65	-0.06	-0.78%	12/18/2009
Allied Capital Co	ALD	Ares Capital Corp	ARCC	$4.91	4.25%	$4.97	0.06	1.24%	10/26/2009
AMICAS Inc.	AMCS	Merge Healthcare	MRGE	$6.04	0.00%	$6.05	0.01	0.17%	3/5/2010
Allegheny Energy	AYE	FirstEnergy Corpo	FE	$22.89	-0.91%	$25.87	2.98	13.03%	2/11/2010
BJ Services Compa	BJS	Baker Hughes Inco	BHI	$20.58	0.34%	$20.65	0.07	0.36%	8/31/2009
Bowne & Co. Inc.	BNE	R.R. Donnelley &	RRD	$11.24	0.00%	$11.50	0.26	2.31%	2/23/2010
BPW Acquisition C	BPW	Talbots Inc. (Th	TLB	$11.14	2.20%	$11.31	0.17	1.54%	12/8/2009
Brink's Home Secu	CFL	Tyco Internationa	TYC	$42.30	0.19%	$42.50	0.20	0.47%	1/19/2010
Chordiant Softwar	CHRD	Pegasystems Inc.	PEGA	$5.06	-0.20%	$5.00	-0.06	-1.19%	3/15/2010
COMSYS IT Partner	CITP	Manpower Inc Comm	MAN	$17.50	-0.06%	$17.65	0.15	0.86%	2/2/2010
CKE Restaurants	CKR	Thomas H Lee Partners	--	$10.98	0.09%	$11.05	0.07	0.64%	2/26/2010
3Com Corporation	COMS	Hewlett-Packard C	HPQ	$7.71	1.18%	$7.90	0.19	2.46%	11/12/2009
Care Investment T	CRE	TipTree	--	$8.92	0.00%	$9.00	0.08	0.90%	3/16/2010
CRYSTAL RIVER CAP	CYRV.OB	Brookfield Asset Management	--	$0.73	-2.03%	$0.60	-0.13	-17.24%	2/24/2010
Diedrich Coffee	DDRX	Green Mountain Co	GMCR	$34.86	-0.06%	$35.00	0.14	0.40%	11/25/2009
DRAGON PHARMA INC	DRUG.OB	Chairman & CEO	--	$0.69	11.29%	$0.82	0.13	18.84%	3/26/2010
Facet Biotech Cor	FACT	Abbott Laboratori	ABT	$27.00	0.15%	$27.00	0.00	0.00%	3/10/2010
First Chester Cou	FCEC	Tower Bancorp Inc	TOBC	$10.40	-0.86%	$12.24	1.84	17.69%	12/28/2009
First Keystone Fi	FKFS	Bryn Mawr Bank Co	BMTC	$13.02	0.00%	$14.82	1.80	13.83%	11/3/2009
FIRST LITCHFIELD	FLFL.OB	Union Savings Bank	--	$14.75	0.00%	$15.00	0.25	1.69%	10/26/2009
Cedar Fair L.P.	FUN	Siddur Holdings	Private	$11.70	0.09%	$11.50	-0.20	-1.71%	12/16/2009
GLOBAL MED TECH I	GLOB.OB	Haemonetics Corpo	HAE	$1.21	0.00%	$1.22	0.01	0.83%	2/1/2010
HIGHBURY FINANCL	HBRF.OB	Affiliated Manage	AMG	$7.03	0.86%	$7.70	0.67	9.60%	12/14/2009
Harleysville Nati	HNBC	First Niagara Fin	FNFG	$6.72	-1.47%	$6.76	0.04	0.65%	7/27/2009
ICO Inc.	ICOC	A. Schulman Inc.	SHLM	$8.33	-0.24%	$8.45	0.12	1.49%	12/2/2009
infoGROUP Inc.	IUSA	CCMP Capital	--	$7.88	-0.13%	$8.00	0.12	1.52%	3/8/2010
Iowa Telecommunic	IWA	Windstream Corpor	WIN	$17.08	-0.18%	$16.94	-0.14	-0.84%	11/24/2009
Javelin Pharmaceu	JAV	Myriad Pharmaceut	MYRX	$1.31	0.00%	$1.31	0.00	0.31%	12/18/2009
K-Tron Internatio	KTII	Hillenbrand Inc C	HI	$149.84	0.03%	$150.00	0.16	0.11%	1/11/2010
Lodgian Inc. New	LGN	Lone Star Funds	Private	$2.49	0.00%	$2.50	0.01	0.40%	1/22/2010
Maine & Maritimes	MAM	Emera	--	$43.46	-0.44%	$45.00	1.54	3.54%	3/12/2010
Millipore Corpora	MIL	Merck KGaA	--	$105.46	0.06%	$107.00	1.54	1.46%	3/1/2010
North Asia Invest	NHR	PACIFIC CITY FINL	PFCF.OB	$10.00	0.00%	$10.00	0.00	0.00%	1/14/2010
NRG Energy Inc.	NRG	Exelon Corporatio	EXC	$20.25	-0.34%	$23.54	3.29	16.24%	10/19/2008
NURX PHARMACEUTIC	NUXP.OB	QUANTRX BIOMEDICA	QTXB.OB	$0.24	0.00%	$0.46	0.22	93.06%	1/29/2010
OAK FINANCIAL COR	OKFC.OB	Chemical Financia	CHFC	$30.20	0.00%	$31.68	1.48	4.91%	1/8/2010
Optimal Group In	OPMR	WowWee	Insider	$2.34	-0.43%	$2.40	0.06	2.56%	3/17/2010
The Orchard Enter	ORCD	Dimensional Associates	--	$2.00	-0.50%	$2.05	0.05	2.50%	3/6/2010
Peco Ii Inc.	PIII	Lineage Power	--	$5.80	0.00%	$5.86	0.06	1.03%	2/18/2010
Pinnacle Gas Reso	PINN	Scotia Waterou	--	$0.33	-0.34%	$0.34	0.02	4.62%	2/24/2010
Portec Rail Produ	PRPX	L.B. Foster Compa	FSTR	$11.60	-0.09%	$11.71	0.11	0.95%	2/17/2010
Sport Supply Grou	RBI	ONCAP Management Partners	--	$13.47	0.52%	$13.55	0.08	0.59%	3/15/2010
RCN Corp.	RCNI	ABRY Partners	--	$15.35	0.85%	$15.00	-0.35	-2.28%	3/5/2010
Riskmetrics Group	RISK	MSCI Inc Class A	MXB	$22.39	0.00%	$22.79	0.40	1.80%	3/1/2010
Switch & Data Fac	SDXC	Equinix Inc.	EQIX	$17.65	-1.40%	$18.79	1.14	6.45%	10/21/2009
Sauer-Danfoss Inc	SHS	Danfoss	--	$13.26	0.45%	$13.25	-0.01	-0.08%	3/9/2010
Smith Internation	SII	Schlumberger N.V.	SLB	$41.62	1.69%	$42.96	1.34	3.22%	2/22/2010
SkillSoft plc	SKIL	SSI Investments	--	$10.28	-2.19%	$10.80	0.52	5.06%	2/12/2010
SKYTERRA COMMUNIC	SKYT.OB	Harbinger Capital Partners	--	$4.90	-0.81%	$5.00	0.10	2.04%	9/23/2009
Sinoenergy Corpor	SNEN	Company's chairman and president	Private	$1.68	0.60%	$1.90	0.22	13.10%	10/12/2009
Southern Connecti	SSE	Naugatuck Valley	NVSL	$6.56	-0.15%	$7.25	0.69	10.52%	2/23/2010
Silicon Storage T	SSTI	Microchip Technol	MCHP	$3.06	-0.65%	$3.05	-0.01	-0.33%	2/3/2010
Sterling Banks I	STBK	Roma Financial Co	ROMA	$2.34	0.00%	$2.52	0.18	7.69%	3/18/2010
Southwest Water C	SWWC	Long-Term Infrastructure Investor Group	--	$10.42	-0.29%	$11.00	0.58	5.57%	3/3/2010
SYNERGX SYS INC	SYNX.PK	Firecom	Private	$0.62	0.00%	$0.70	0.08	12.90%	1/25/2010
Meridian Resource	TMR	Alta Mesa Holding	--	$0.26	-3.70%	$0.29	0.03	11.54%	12/23/2009
Terra Industries	TRA	CF Industries Hol	CF	$45.96	0.79%	$46.03	0.07	0.15%	3/10/2010
PLATO Learning In	TUTR	Thoma Bravo	--	$5.52	12.42%	$5.60	0.08	1.45%	3/26/2010
Techwell Inc.	TWLL	Intersil Corporat	ISIL	$18.41	0.00%	$18.50	0.09	0.49%	3/22/2010
Youbet.com Inc.	UBET	Churchill Downs	CHDN	$3.13	0.97%	$3.23	0.10	3.09%	11/12/2009
Varian Inc.	VARI	Agilent Technolog	A	$51.79	0.02%	$52.00	0.21	0.41%	7/26/2009
Western Sizzlin C	WEST	Steak n Shake Com	SNS	$9.05	0.43%	$8.07	-0.98	-10.82%	10/22/2009
Waste Services I	WSII	IESI-BFC Ltd Comm	BIN	$10.18	0.30%	$10.34	0.16	1.53%	11/12/2009
XTO Energy Inc. C	XTO	Exxon Mobil Corpo	XOM	$46.87	0.26%	$47.23	0.36	0.77%	12/14/2009
Zenith National I	ZNT	Fairfax Financial	--	$38.25	-0.03%	$38.00	-0.25	-0.65%	2/18/2010
Zareba Systems I	ZRBA	Woodstream	--	$8.96	-0.11%	$9.00	0.04	0.45%	1/11/2010