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FACTBOX - M&A spreads for deals under scrutiny
January 22, 2008 / 4:07 PM / 10 years ago

FACTBOX - M&A spreads for deals under scrutiny

 Jan 22 (Reuters) Arbitrage spreads, which measure the difference between the offered price of an acquisition and the current trading price, have fluctuated on several closely watched merger deals.
 The following list shows the arbitrage spreads for some high-profile takeover deals, based on Tuesday's stock prices. Historically, the wider the spread, the more investors doubt the deal will close. TARGET                        BUYER                           ARBITRAGE SPREAD Alliance Data (ADS.N)         Blackstone  Group (BX.N)        37.1 percent Aquila Inc. ILA.N           Great Plains Energy (GXP.N)     15.7 percent Clear Channel (CCU.N)         Bain Capital, Thomas H. Lee     28.5 percent Cumulus Media CMLS.O        Merrill Lynch Global P/E       117.6 percent Gemstar-TV Guide GMST.O     Macrovision Corp. MVSN.O      40.5 percent Hunstman Corp. (HUN.N)        Hexion Specialty Chemical       20.5 percent Penn National Gaming (PENN.O) Fortress Investment Group       21.8 percent Reddy Ice Holdings FRZ.N    GSO Capital Partners            41.3 percent 3Com Corp. COMS.O           Bain Capital                    40.0 percent XM Satellite Radio XMSR.O   Sirius Satellite (SIRI.O)       19.2 percent  (Reporting by Jessica Hall, editing by Dave Zimmerman)  (For more M&A news and our DealZone blog, go to here)   

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