FACTBOX-Spreads of U.S. mergers and acquisitions

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April 20 (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 43.20 46.95
Merck & Co Schering Plough SGP.N 38,609.15 23.34 25.34
NRG Energy Calpine CPN.N 10,916.43 9.77 9.55
Thoratec Corp HeartWare Intl HTWR.OQ 9,392.76 25.50 30.65
Exelon Corp NRG Energy NRG.N 6,237.66 17.89 22.38
CenturyTe Embarq EQ.N 5,744.34 35.96 36.54
Agrium Inc CF Ind CF.N 3,652.31 69.95 75.33
Fidelity National Metavante Tech MV.N 2,943.87 25.87 26.62
Consortium Post Properties PPS.N 2,054.24 13.55 47.00
CF Industries Terra Ind TRA.N 2,051.31 28.19 31.75
Validus Holdings IPC Hldgs IPCR.OQ 1,677.41 26.85 28.77
Pulte Homes Centex Corp CTX.N 1,341.58 11.14 11.35
Magellan Partners Magellan Holdings MGG.N 1,147.91 19.68 20.54
NOTE: * Deal values in millions of U.S. dollars
SOURCE: Reuters
(Compiling by Oswald Blackwood)
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