FACTBOX-Spreads of U.S. mergers and acquisitions

May 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 DEAL PRICE/SHARE SPREAD%

VALUE*
Mars Inc Wm Wrigley 21,917.51 80 2.95
Consortium Clear Channel 17,900.00 36 3.15
Hewlett-Packard EDS 12,565.03 25 2.88
CME Group Inc NYMEX Holdings 11,071.73 100.04 2.52
Ingersoll-Rand Trane Inc 9,208.23 47.07 0.33
Nokia NAVTEQ 7,657.19 78 2.24
Hexion Specialty Huntsman Corp 6,213.24 28 23.62
Liberty Mutual Safeco Corp 6,124.91 68.25 1.91
Consortium Penn National 5,732.69 67 53.88
Triarc Cos Wendys Int'l 4,758.27 29.03 0.75
Sirius Satellite XM Satellite 4,570.57 12.28 6.80
Iberdrola SA Energy East 4,202.70 32.71 32.01
Bank of America Countrywide 4,143.76 6.58 34.23
Reed Elsevier ChoicePoint 3,576.80 50 3.14
Consortium Puget Energy 3,510.75 30 7.33
Finmeccanica DRS Tech 3,350.26 81 2.21
Delta Air Lines Northwest 3,051.85 8.94 10.48
WebMD Health HLTH Corp 2,897.69 12.82 9.97
United Tech Diebold Inc 2,631.77 40 -0.72
Mapfre SA Commerce Group 2,316.14 36.7 0.05
Nationwide group Nationwide 2,204.24 47.2 -6.96
Consortium Post Properties 2,054.24 47 27.20
Hellman & Friedman Getty Images 2,024.80 34 2.32
Electronic Arts Take-Two 1,932.61 26 -3.38
CBS Corp CNET Networks 1,751.96 11.5 0.97
Kinetic Concepts Lifecell Corp 1,743.33 51 0.06
Great Plains Aquila Inc 1,701.41 4.07 7.06
JPMorgan Chase Bear Stearns 1,693.76 10 -1.73
Stone Energy Bois d Arc Energy 1,650.94 25.14 1.50
Blockbuster Circuit City 1,346.93 8 62.27
Swingset Holdings Bright Horizons 1,268.10 48.25 0.54
Dubai Int'l Och-Ziff Capital 1,258.62 33 48.38
VISTAR Corp Performance Food 1,224.95 34.5 1.32
Management group CKX Inc 1,164.71 12 22.20
Fifth Third Bancorp First Charter 1,089.69 31 1.77
TZ Holdings TriZetto Group 948.21 22 3.68
Ansys Inc Ansoft Corp 760.86 35.25 0.57
Verizon Wireless Rural Cellular 679.16 45 1.06
Essar Steel Esmark Inc 669.00 17 10.39
GlaxoSmithKline Sirtris Pharma 658.33 22.5 0.18
Sumitomo Heavy, TPG Axcelis Tech 613.50 6 5.45
Tullett Prebon eSpeed Inc 605.14 12 27.80
Golden Gate Children's Place 577.96 24 -17.61
Grey Wolf Basic Energy 560.20 13.94 -51.56
O'Reilly Auto CSK Auto Corp 528.37 12 2.30
NOTE: * Deal values in millions of U.S. dollars
SOURCE: Reuters
(Compiling by Jessica Hall; Editing by Brian Moss)
(For more M&A news and our DealZone blog, go to
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