FACTBOX-Spreads of U.S. mergers and acquisitions

May 1 (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*
Microsoft Corp Yahoo! Inc 43,246.74 31 13.1
Mars Inc Wm Wrigley Jr 21,917.51 80 5.04
Consortium Clear Channel 19,350.00 39.2 30.02
CME Group NYMEX Holdings 11,071.73 96.52 4.23
Ingersoll-Rand Trane Inc 9,208.23 46.71 0.42
Takeda Pharma Millennium Pharma 8,121.25 25 0.52
Nokia Oyj NAVTEQ Corp 7,657.19 78 5.11
Hexion Specialty Huntsman Corp 6,213.24 28 24.5
Liberty Mutual Safeco Corp 6,124.91 68.25 2.26
Consortium Penn National 5,732.69 67 56.84
Triarc Cos Wendys 4,758.27 29.33 1.12
Sirius Satellite XM Satellite Radio 4,570.57 11.82 6.03
Iberdrola Energy East 4,202.70 32.92 44.39
Bank of America Countrywide 4,143.76 6.84 18.34
Reed Elsevier ChoicePoint 3,576.80 50 3.41
Consortium Puget Energy 3,510.75 30 10.25
Delta Air Lines Northwest Airlines 3,051.85 10.64 10.12
WebMD Health HLTH Corp 2,897.69 13.09 17.75
Macrovision Gemstar TV Guide 2,724.83 6.35 57.57
United Tech Diebold 2,631.77 40 2.04
Mapfre SA Commerce Group 2,316.14 36.7 0.71
Nationwide group Nationwide Financial 2,204.24 47.2 -5.83
Consortium Post Properties 2,054.24 47 28.07
Agrium Inc UAP Hldg Corp 2,045.76 39 0.23
Hellman & Friedman Getty Images 2,024.80 34 4.13
Electronic Arts Take-Two 1,932.61 26 -0.91
Undisclosed Mission West 1,800.00 13.55 13.96
Kinetic Concepts Lifecell Corp 1,743.33 51 0.43
Great Plains Aquila Inc 1,701.41 3.99 10.97
JPMorgan Chase Bear Stearns 1,693.76 10.37 -3.4
Stone Energy Bois d Arc Energy 1,650.94 23.71 -0.82
Blockbuster Circuit City 1,346.93 8 68.78
Management Group CKX Inc 1,334.56 13.75 52.78
Swingset Holdings Bright Horizons 1,268.10 48.25 1.77
Dubai Intn'l Och-Ziff Capital 1,258.62 33 70.02
VISTAR Corp Performance Food 1,224.95 34.5 3.11
Fifth Third First Charter 1,089.69 31 2.04
TZ Holdings TriZetto Group 948.21 22 4.51
Inverness Matria Healthcare 835.22 39 52.94
Ansys Inc Ansoft Corp 760.86 33.62 1.4
Robert Maguire Maguire Properties 743.17 21 30.43
Verizon Wireless Rural Cellular 679.16 45 1.26
Essar Steel Esmark Inc 669 17 1.86
GlaxoSmithKline Sirtris Pharma 658.33 22.5 0.67
Sumitomo Heavy,TPG Axcelis Tech 613.5 6 11.11
Tullett Prebon eSpeed Inc 605.14 12 24.48
Golden Gate Children's Place 577.96 24 3.23
Grey Wolf Basic Energy 560.2 12.47 -46.27
O'Reilly Auto CSK Auto 528.37 12 0.59
Investor group Cumulus Media 507.07 11.75 99.15
NOTE: * Deal values in millions of U.S. dollars
SOURCE: Reuters
(Compiling by Paritosh Bansal)