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Bonds News

FACTBOX-Spreads of U.S. mergers and acquisitions

 NEW YORK, June 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               DEAL VALUE* PRICE/SHARE Spread %
InBev NV              Anheuser-Busch        46,349.87        65    5.86
Mars Inc              Wm Wrigley Jr Co      21,917.51        80    3.65
Consortium            Clear Channel         17,900.00        36    1.64
HP                    Electronic Data       12,565.03        25    2.38
CME                   NYMEX Holdings Inc    11,071.73     88.47    3.11
NRG                   Calpine Corp          10,916.43        23    3.18
Invitrogen            Applied Biosystems     9,243.29     50.79   48.67
Nokia Oyj             NAVTEQ Corp            7,657.19        78    1.04
Hexion                Huntsman Corp          6,213.24        28   32.26
Liberty Mutual        Safeco Corp            6,124.91     68.25     1.5
Consortium            Penn National          5,732.69        67   52.27
Triarc                Wendys                 4,758.27     26.99   -0.08
Sirius                XM                     4,570.57     11.04    6.87
Iberdrola SA          Energy East            4,202.70     32.56   21.77
Bank of America       Countrywide Fin        4,143.76      5.36   11.98
Reed Elsevier         ChoicePoint Inc        3,576.80        50    2.59
Consortium            Puget Energy Inc       3,510.75        30    8.46
Finmeccanica          DRS Tech               3,359.00        81    3.03
Delta Air             Northwest Air          3,051.85      6.43    7.08
WebMD                 HLTH                   2,897.69     13.65   13.22
Smith Intl            W-H Energy             2,894.29     93.23    0.19
United Tech           Diebold Inc            2,631.77        40    2.88
Nationwide Mutual Ins Nationwide Fin         2,204.24      47.2   -6.87
Consortium            Post Properties Inc    2,054.24        47   36.99
Hellman & Friedman    Getty Images           2,024.80        34    1.74
Electronic Arts       Take-Two Interactive   1,932.61        26   -2.11
CBS                   CNET                   1,751.96      11.5    0.35
Great Plains          Aquila Inc             1,701.41      4.05    4.87
Willis Group          Hilb Rogal & Hobbs     1,673.94        46    4.55
Stone Energy          Bois d'Arc             1,650.94     24.59    1.11
Precision Drilling    Grey Wolf Inc          1,609.56         9   -2.49
Grey Wolf Inc         Basic Energy           1,418.18     40.65   43.84
Blockbuster Inc       Circuit City           1,346.93         8   90.48
Dubai Intl            Och-Ziff Capital       1,258.62        33   58.43
Management Group      CKX Inc                1,164.71        12   17.19
 NOTE: * Deal values in millions of U.S. dollars
 SOURCE: Reuters
 (Compiling by Oswald Blackwood; Editing by Lisa Von Ahn)
 (For more M&A news and our DealZone blog, go to
here)

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