FACTBOX-Spreads of U.S. mergers and acquisitions

Mon Apr 13, 2009 2:59pm EDT

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 April 13 (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   46.35           9.26
Merck & Co        Schering Plough     SGP.N     38,609.15   25.67          10.07
NRG Energy        Calpine Corp        CPN.N     10,916.43   10.36          19.27
Thoratec Corp     HeartWare Intl      HTWR.OQ    9,392.76   31.14          24.35
Exelon Corp       NRG Energy          NRG.N      6,237.66   23.19          19.46
CenturyTel        Embarq Corp         EQ.N       5,744.34   37.91           1.63
Agrium Inc        CF Industries Hldg  CF.N       3,652.31   73.49            .63
Fidelity Ntl      Metavante Tech      MV.N       2,943.87   26.41           2.27
Consortium        Post Properties     PPS.N      2,054.24   47.00         258.23
CF Industries     Terra Ind           TRA.N      2,051.31   33.15          20.98
Validus Hldg      IPC Holdings        IPCR.OQ    1,677.41   28.29           2.30
Pulte Homes       Centex Corp         CTX.N      1,341.58    9.86           3.98
Gilead Sciences   CV Therapeutics     CVTX.OQ    1,284.68   20.00            .20
Magellan Partners Magellan Holdings   MGG.N      1,147.91   19.54           6.24
NOTE: * Deal values in millions of U.S. dollars
SOURCE: Reuters
(Compiling by Oswald Blackwood)
(For more M&A news and our DealZone blog, go to
here)