FACTBOX-Spreads of U.S. mergers and acquisitions

March 19 (Reuters) - The following list shows the arbitrage spread for proposed
mergers and acquisitions of U.S. companies.

Historically, the wider the spread, the more investors doubt a deal will close.

Arbitrage spreads measure the difference between the offered takeover price and the
target company's current trading price.

For real-time spreads, go to <US/ARB/MENU>
ACQUIRER TARGET RIC DEAL VALUE* PRICE/SHARE SPREAD%
Pfizer Inc Wyeth WYE.N 66,825.00 47.04 10.34
Roche Holding Genentech DNA.N 40,033.72 95.00 1.41
Merck & Co Schering Plough SGP.N 38,609.15 26.05 12.28
Dow Chemical Rohm and Haas ROH.N 15,225.62 78.00 -.41
NRG Energy Calpine Corp CPN.N 10,916.43 9.56 55.51
Exelon Corp NRG Energy NRG.N 6,237.66 21.62 20.69
CenturyTel Embarq Corp EQ.N 5,744.34 36.69 2.28
Agrium Inc CF Industries CF.N 3,492.62 68.84 -.47
Consortium Post Properties PPS.N 2,054.24 47.00 298.64
CF Industries Terra Industries TRA.N 2,051.31 31.40 11.61
Gilead Sciences CV Therapeutics CVTX.OQ 1,284.68 20.00 .76
Magellan Midstream Magellan Midstream MGG.N 1,147.91 19.30 3.42
NOTE: * Deal values in millions of U.S. dollars
SOURCE: Reuters
(Compiling by Oswald Blackwood; Editing by Andre Grenon)
(For more M&A news and our DealZone blog, go to
here)