Sunday, February 27, 2011

Merger Arbitrage Spreads February 28, 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 $7.27 $7.53 0.26 3.64% 9/27/2010 C&S
Abington Community Bancorp Inc ABBC Susquehanna Bancshares Inc SUSQ $12.70 $12.79 0.09 0.71% 1/26/2011 Stock
Alberto Culver Co ACV Unilever ADR Reptg 1 Ord Shs UL $37.22 $37.50 0.28 0.75% 9/27/2010 Cash
American Exploration Corp AEXP Mainland Resources Incorporated MNLU $0.1700 $0.1950 0.03 14.71% 3/23/2010 Stock
AML Communications Inc AMLJ Anaren Inc ANEN $2.09 $2.15 0.06 2.87% 2/14/2011 Cash
Answers Corp ANSW AFCV Holdings -- $10.49 $10.50 0.01 0.10% 2/3/2011 Cash
Arbinet Corp ARBX Primus Telecommunications Group Inc PMUG $8.95 $9.04 0.09 0.99% 11/11/2010 Stock
American Surgical Hldg
Inc
ASRG Great Point Partners -- $2.94 $2.87 -0.07 -2.38% 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 $82.92 $83.50 0.58 0.70% 2/7/2011 Cash
Bucyrus International Inc BUCY Caterpillar Inc CAT $91.01 $92.00 0.99 1.09% 11/15/2010 Cash
Cadence Financial Corp CADE Community Bancorp -- $2.49 $2.50 0.01 0.40% 10/6/2010 Cash
Caprius Inc CAPI Vintage Capital Group -- $0.0600 $0.0650 $0.0050 8.33% 11/11/2010 Cash
Capital Gold Corp CGC Gammon Gold Incorporated GRS $5.51 $5.41 -0.10 -1.81% 10/7/2010 C&S
Clinical Data Inc CLDA Forest Laboratories Inc FRX $30.30 $30.00 -0.30 -0.99% 2/22/2011 Cash
Center Financial Corp CLFC Nara Bancorp Inc NARA $7.81 $7.96 0.15 1.92% 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 -- $0.2400 $0.2000 -0.04 -16.67% 11/8/2010 Cash
CaraCo Pharmaceutical Laboratories Ltd CPD Sun Pharma (Majority Holder) -- $5.19 $5.25 0.06 1.16% 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 $34.11 $34.06 -0.05 -0.16% 10/6/2010 Cash
Del Monte Foods Co DLM Kohlberg Kravis Roberts -- $18.94 $19.00 0.06 0.32% 11/25/2010 Cash
Danvers Bancorp Inc DNBK PeopleS United Financial Inc PBCT $21.78 $22.06 0.28 1.28% 1/20/2011 C&S
Dionex Corp DNEX Thermo Fisher Scientific Inc TMO $117.90 $118.50 0.60 0.51% 12/13/2010 Cash
Emergency Medical Services Corp EMS Clayton, Dubilier & Rice, LLC -- $63.11 $64.00 0.89 1.41% 2/14/2011 Cash
Endwave Corp ENWV Gigoptix Inc GGOX $2.71 $2.81 0.10 3.65% 2/7/2011 Stock
First Franklin Corp FFHS Cheviot Financial Corp CHEV $14.41 $14.50 0.09 0.62% 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 $7.50 $8.56 1.06 14.10% 10/15/2010 C&S
Frontier Oil Corp FTO Holly Corp HOC $28.03 $28.10 0.07 0.24% 2/22/2011 C&S
Nicor Inc GAS AGL Resources Inc AGL $52.59 $53.29 0.70 1.34% 12/7/2010 C&S
Genzyme Corp GENZ Sanofi Aventis ADR Each Representing One Half Of One Ord Shs SNY $75.39 $74.00 -1.39 -1.84% 2/16/2011 Cash
The Wilber Corp GIW Community Bank System Inc CBU $9.41 $9.50 0.09 0.96% 10/25/2010 C&S
Genoptix Inc GXDX Novartis -- $24.98 $25.00 0.02 0.08% 1/24/2011 Cash
Hudson Holding Corp HDHL Rodman & Renshaw Capital Group Inc RODM $0.0500 $0.0717 0.02 43.31% 1/5/2011 Stock
Herley Industries Inc HRLY Kratos Defense and Security Solutions Inc KTOS $18.99 $19.00 0.01 0.05% 2/7/2011 Cash
Hughes Communications Inc HUGH EchoStar Corp SATS $59.74 $60.70 0.96 1.61% 2/14/2011 Cash
Hypercom Corp HYC Verifone Systems Inc PAY $10.15 $10.57 0.42 4.10% 11/17/2010 Stock
L 1 Identity Solutions
Inc
ID Safran -- $11.92 $12.00 0.08 0.67% 9/20/2010 Cash
Jo-Ann Stores Inc JAS Leonard Green & Partners -- $60.74 $61.00 0.26 0.43% 12/23/2010 Cash
J Crew Group Inc JCG TPG Capital and Leonard Green & Partners -- $43.22 $43.50 0.28 0.65% 11/23/2010 Cash
LaBranche & Co Inc LAB Cowen Group Incorporated COWN $4.19 $4.30 0.11 2.66% 2/17/2011 Stock
Ladish Co Inc LDSH Allegheny Technologies Inc ATI $53.90 $54.23 0.33 0.62% 11/17/2010 C&S
Legacy Bancorp Inc LEGC Berkshire Hills Bancorp Inc BHLB $13.45 $14.03 0.58 4.28% 12/22/2010 C&S
LTX Credence Corp LTXC Verigy Ltd VRGY $9.10 $12.46 3.36 36.93% 11/18/2010 Stock
Emergent Group Inc LZR Universal Hospital Services -- $8.41 $8.46 0.05 0.59% 2/7/2011 Cash
Majestic Capital Ltd MAJC Bayside Capital Partners -- $4.15 $4.50 0.35 8.43% 9/21/2010 Cash
Mediacom Communications Corp MCCC CEO, Rocco B. Commisso -- $8.81 $8.75 -0.06 -0.68% 11/15/2010 Cash
Midcarolina Financial Corp MCFI American National Bankshares Inc AMNB $6.50 $7.13 0.63 9.66% 12/16/2010 Stock
Massey Energy Co MEE Alpha Natural Resources
Inc
ANR $63.99 $66.02 2.03 3.17% 1/31/2011 C&S
McAfee Inc MFE Intel Corp INTC $47.98 $48.00 0.02 0.04% 8/19/2010 Cash
Microfluidics International Corp MFLU IDEX Corp IEX $1.35 $1.35 0.00 0.00% 1/11/2011 Cash
Marshall and Ilsley Corp MI Bank Of Montreal BMO $7.67 $7.92 0.25 3.25% 12/17/2010 Stock
Mercer Insurance Group Inc MIGP United Fire & Casualty Co UFCS $28.13 $28.25 0.12 0.43% 12/1/2010 Cash
Newalliance Bancshares
Inc
NAL First Niagara Financial Group Inc FNFG $15.66 $15.77 0.11 0.72% 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 $0.5800 $0.6210 0.04 7.06% 12/27/2010 Stock
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)
-- $5.91 $6.10 0.19 3.21% 11/22/2010 Cash
North Penn Bancorp Inc (New) NPBP Norwood Financial Corp NWFL $17.30 $18.76 1.46 8.46% 12/15/2010 C&S
NStar NST Northeast Utilities NU $44.64 $44.08 -0.56 -1.25% 10/18/2010 Stock
Nuloch Resources Inc NULCF Magnum Hunter Resources Corp MHR $2.26 $2.43 0.17 7.31% 1/18/2011 Stock
Omni Bancshares Inc OMBA IBERIABANK Corp IBKC $15.25 $19.12 3.87 25.37% 2/22/2011 Stock
Pride International Inc PDE ENSCO PLC ESV $41.19 $42.07 0.88 2.15% 2/7/2011 C&S
Progress Energy Inc PGN Duke Energy Corp DUK $45.30 $46.69 1.39 3.06% 1/10/2011 Stock
Playboy Enterprises Inc PLA Insiders -- $6.12 $6.15 0.03 0.49% 1/10/2011 Cash
Playboy Enterprises Inc PLA.A Insiders -- $6.17 $6.15 -0.02 -0.32% 1/10/2011 Cash
ProLogis PLD AMB Property Corp AMB $15.85 $15.92 0.07 0.46% 1/31/2011 Stock
Pennichuck Corp PNNW City of Nashua -- $28.12 $29.00 0.88 3.13% 11/12/2010 Cash
Pre-Paid Legal Services Inc PPD MidOcean Partners -- $66.24 $66.50 0.26 0.39% 2/1/2011 Cash
Penn Virginia GP Holdings L P PVG Penn Virginia Resource Partners L P PVR $26.45 $27.95 1.50 5.67% 9/21/2010 Stock
Qwest Communications International Inc Q CenturyLink Inc CTL $6.66 $6.73 0.07 1.04% 4/22/2010 Stock
RAE Systems Inc RAE Vector Capital -- $1.79 $1.75 -0.04 -2.23% 1/18/2011 Cash
Rehabcare Group Inc RHB Kindred Healthcare Inc KND $37.36 $37.91 0.55 1.48% 2/8/2011 C&S
Rome Bancorp Inc ROME Berkshire Hills Bancorp Inc BHLB $12.20 $12.31 0.11 0.94% 10/12/2010 C&S
Retail Ventures Inc RVI Dsw Inc DSW $17.15 $17.31 0.16 0.95% 2/8/2011 Stock
Sterling Bancshares Inc SBIB Comerica Inc CMA $9.01 $9.18 0.17 1.92% 1/18/2011 Stock
Smurfit Stone Container Corp SSCC Rock Tenn Co RKT $38.70 $38.77 0.07 0.18% 1/24/2011 C&S
Silverleaf Resorts Inc SVLF Cerberus Capital Management -- $2.46 $2.50 0.04 1.63% 2/9/2011 Cash
Tongjitang Chinese Medicines Co TCM Insiders -- $4.40 $4.50 0.10 2.27% 11/1/2010 Cash
Talecris Biotherapeutics Holdings Corp TLCR Grifols SA GIFLF $24.92 $29.54 4.62 18.53% 6/7/2010 C&S
Tollgrade Communications Inc TLGD Golden Gate Capital -- $9.99 $10.10 0.11 1.10% 2/25/2011 Cash
Terremark Worldwide Inc TMRK Verizon Communications Inc VZ $18.94 $19.00 0.06 0.32% 1/27/2011 Cash
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 -- $2.20 $2.25 0.05 2.27% 11/10/2010 Cash
Wimm-Bill-Dann Foods WBD Pepsico Inc PEP $32.50 $33.59 1.09 3.37% 2/3/2011 Cash
Wilmington Trust Corporation WL M&t Bank Corp MTB $4.48 $4.55 0.07 1.55% 11/1/2010 Stock
Wesco Financial Corp WSC Berkshire Hathaway Ord Shs Class B BRK.B $390.01 $390.50 0.49 0.13% 2/7/2011 Cash
Whitney Holding Corp WTNY Hancock Holding Co HBHC $14.15 $14.47 0.32 2.24% 12/22/2010 Stock
Xeta Technologies Inc XETA PAETEC Holding Corp PAET $5.45 $5.50 0.05 0.92% 2/9/2011 Cash
Zoran Corp ZRAN CSR PLC CSRXF $11.22 $11.38 0.16 1.40% 2/22/2011 Stock

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