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The activity on the Merger and Acquisition front decreased last week with only one new deal being announced and three deals closing.

The new deal includes the acquisition of American Physicians Capital (ACAP) by The Doctors Company for $41.50 per share in cash.

The deals that closed include the acquisition of SenoRx (SENO) by C.R. Bard on July 06, 2010, the acquisition of Bell Microproducts (BELM) by Avnet on July 06, 2010 and the acquisition DynCorp International (DCP) by Cerberus Capital Management on July 08, 2010.

Symbol Announced
Date
Acquiring

Company

Closing
Value
Closing
Price
Last

Price

Closing
Date
Profit Annu.
Profit
WX 04/26/2010 Charles River Laboratories (CRL) $1.6 billion $20.62 $16.17 12/31/2010 27.54% 58.45%
Details of Wuxi Pharmatech (Cayman) Inc. A
Expected to close by the end of the year for a closing values of $1.6bn. It is a cash and stock transaction in which WuXi PharmaTech ADS holders will receive $11.25 in cash and $10.00 of Charles River common stock determined by an exchange ratio. This exchange ratio will be determined by dividing $10.00 by the weighted average Charles River common stock closing price as reported on the New York Stock Exchange for the 20-day trading period ending on the second business day prior to closing (Charles River Average Price). However, if the Charles River Average Price is equal to or greater than $43.1726, then the exchange ratio will be fixed at 0.2316, and if the Charles River Average Price is equal to or less than $37.1486, then the exchange ratio will be fixed at 0.2692.
ATBC 05/10/2010 Jacksonville Bancorp (JAXB) N/A $2.73 $2.18 09/30/2010 25.23% 115.11%
Details of Atlantic BancGroup Inc
Expected to close in the third quarter of 2010. If the merger is completed, Atlantic BancGroup shareholders will receive 0.2 shares of Jacksonville Bancorp common stock for each share of Atlantic BancGroup common stock held, plus up to approximately $0.65 per share in cash, subject to the qualifying sale of certain Atlantic BancGroup assets.
AYE 02/11/2010 FirstEnergy (FE) $8.5 billion $24.69 $22.07 03/31/2011 11.85% 16.51%
Details of Allegheny Energy, Inc. Common S
Expected to close by March 31, 2011 for a closing value $8.5bn. It is a stock based transaction @ 0.667 share of FE
SSE 02/23/2010 Naugatuck Valley Financial Corp (NVSL) $19.5 million $7.25 $6.4999 08/16/2010 11.54% 120.35%
Details of Southern Connecticut Bancorp In

Expected to close by the third calendar quarter of 2010, for a closing value of $19.5mn @ $7.25/share. The Cash/stock election is subject to proration

PINN 02/24/2010 Investor Group lead by Scotia Waterous (USA) (N/A) $11 million $0.34 $0.31 08/21/2010 9.68% 88.31%
Details of Pinnacle Gas Resources, Inc.
Expected to close by the second quarter of 2010 for a closing value of $11mn. It is a cash deal @ $0.34 per share
BGH 06/11/2010 Buckeye Partners LP (BPL) $1.14 billion $42.62 $39.79 12/31/2010 7.11% 15.08%
Details of Buckeye GP Holdings
Expected to close in the fourth quarter of 2010 for a closing value of $1.14 billion. Under the deal, for each Buckeye GP unit, holders will get 0.705 Buckeye Partners units.
DIVX 06/02/2010 Sonic Solutions (SNIC) $323 million $7.68 $7.26 09/30/2010 5.74% 26.20%
Details of DivX
Expected to close by the third quarter of 2010 for a cosing value of $323mn. On the completion of the merger, DivX shareholders will receive $3.75 in cash and 0.514 shares of Sonic Solutions common stock for each share of DivX they hold.
EMMS 05/25/2010 JS Acquisition and Alden Global Capital (N/A) $3 billion $2.40 $2.27 09/30/2010 5.73% 26.13%
Details of Emmis Communications Corporatio

Expected to close in the third quarter of 2010 for a closing value of over $3bn. On the completion of the merger, Emmis Communications shareholders will receive $2.40 per share in cash.

Q 04/22/2010 Century Link (CTL) $10.6 billion $5.73 $5.43 04/21/2011 5.57% 7.18%
Details of Qwest Communications Internatio
Expected to close in the first half of 2011for a value of $10.6bn. Under the terms of the agreement, Qwest shareholders will receive 0.1664 CenturyLink shares for each share of Qwest common stock they own at closing.
ECLP 06/09/2010 Allscripts-Misys Healthcare (MDRX) $1.3 billion $20.41 $19.43 11/15/2010 5.05% 14.64%
Details of Eclipsys Corporation
Expected to close in the next four or six months from June 2010 for a closing value of $1.3 billion. On the completion of the merger, Eclipsys shareholders will receive 1.2 shares of Allscripts.
ALOY 06/24/2010 ZelnickMedia (N/A) $126.5 million $9.80 $9.45 12/31/2010 3.70% 7.86%
Details of Alloy
Expected to close in the fourth quarter of 2010 for a closing value of $126.5 million. On the completion of the merger, shareholders of Alloy Inc. will receive $9.80 per share in cash.
EFJI 05/17/2010 Francisco Partners (N/A) N/A $1.50 $1.45 09/30/2010 3.45% 15.73%
Details of EFJohnson Technologies, Inc

Expected to close by the third quarter of 2010. On the completion of the merger, EF Johnson Technologies shareholders will receive $1.05 per share in cash. The deal was amended on June 21, 2010 and the acquisition price increased by 42% to $1.50.

TTIL 06/09/2010 Teoco Corp. (N/A) $58 million $3.00 $2.90 09/30/2010 3.45% 15.73%
Details of TTI Telecom
Expected to close in the third quarter of 2010 for a closing value of $58 million. On the completion of the merger, TTIL shareholders will receive $3 per share in cash.
PMACA 06/10/2010 Old Republic International (ORI) $228 million $7.07 $6.85 09/30/2010 3.18% 14.49%
Details of PMA Capital
Expected to close in the third quarter of 2010 for a closing value of $228 million. As part of the agreement, Old Republic will issue 0.55 shares of its common stock in exchange for each outstanding common share of PMA.
PRPX 02/17/2010 L.B. Foster Co. (FSTR) $112 million $11.71 $11.35 08/31/2010 3.17% 23.15%
Details of Portec Rail Products, Inc.
Expected to close by the end of June 2010 for a closing value of $112mn. The cash deal is @ $11.71 per share
MIR 04/12/2010 RRI Energy In. (RRI) $1.6 billion $11.57 $11.30 12/31/2010 2.36% 5.01%
Details of Mirant Corp Common Stock

Expected to close by the end of the year 2010 for a value of $1.6bn. Mirant Corp. will combine with RRI Energy Inc. in a stock-deal to form GenOn Energy. Mirant stockholders will get about 2.84 RRI common shares for each Mirant share they own.

PSYS 05/17/2010 Universal Health (N/A) $3.1 billion $33.75 $32.98 12/31/2010 2.33% 4.95%
Details of Psychiatric Solutions, Inc.
Expected to close by the fourth quarter of 2010 for a closing value of $3.1bn. On the completion of the merger, Psychiatric Solutions shareholders will receive $33.75 per share in cash.
BNE 02/24/2010 RR Donnelley (RRD) $481 million $11.50 $11.28 09/30/2010 1.95% 8.90%
Details of Bowne & Co., Inc. Common Stock
Expected to close by the second half of 2010 for a closing value of $481mn. It is a cash deal @ $11.50 per share
SWWC 03/03/2010 Institutional Investors (N/A) $275 million $11.00 $10.79 03/31/2011 1.95% 2.71%
Details of Southwest Water Company
Expected to close by 3/31/2011 for a closing value of $275 million. It is a cash deal @ $11.00 per share
WAIN 06/29/2010 Eastern Bank (N/A) $163 million $19.00 $18.64 12/31/2010 1.93% 4.10%
Details of Wainwright Bank & Trust

Expected to close in the fourth quarter of 2010 for a closing value of $163 million. On the completion of the merger, Eastern Bank will pay $19 in cash for each share of Wainwright Bank.

ACAP 07/08/2010 The Doctors Company (N/A) $386 million $41.50 $40.73 12/31/2010 1.89% 4.01%
Details of American Physicians Capital Inc.
Expected to close in the fourth quarter of 2010 for a closing value of $386 million. On the completion of the merger, American Physicians Capital shareholders will receive $41.50 per share in cash.
WMZ 05/24/2010 Williams Partners L.P. (WPZ) $34.73 $34.10 09/30/2010 1.86% 8.49%
Details of Williams Pipeline Partners LP C
Expected to close in the third quarter of 2010. On the completion of the merger, Williams Pipeline Partners shareholders will receive 0.7584 shares of Williams Partners common stock per share held.
MAM 03/12/2010 Emera Inc (N/A) $75.7 million $45.00 $44.18 12/31/2010 1.86% 3.94%
Details of Maine & Maritimes Corporation C
Expected to close by the end of 2010 for a closing value of $75.7 million. The cash deal is @ $45 per share
SII 02/19/2010 Schlumberger (SLB) $7.5 billion $40.79 $40.06 09/30/2010 1.83% 8.35%
Details of Smith International, Inc. Commo

Expected to close by the second half of 2010. It is a stock-for-stock merger @ 0.6966 shares of SLB / $42.96 per SII share

ME 04/15/2010 Apache (APA) $2.7 billion $22.78 $22.37 09/30/2010 1.82% 8.31%
Details of Mariner Energy, Inc. Mariner En
Expected to close by the third quarter of 2010 for a value of $2.7bn. Under the cash and stock deal, Mariner stockholders will receive cash of $7.80 and 0.17043 of a share of Apache common stock in exchange for each share of Mariner common stock.
OMNI 06/04/2010 Wellspring Capital Management (N/A) $122 million $2.75 $2.71 11/15/2010 1.48% 4.28%
Details of OMNI Energy Services Corp.
Expected to close in the second half of 2010 for a closing value of $122mn. On the completion of the merger OMNI Energy Services shareholders will receive $2.75 per share in cash.
VETS 06/02/2010 VCA Antech Inc (WOOF) $41.25 million $0.34 $0.3352 09/30/2010 1.43% 6.53%
Details of PET DRx Corp
Expected to close by the third quarter of 2010 for a closing value of $41.25mn. On the completion of the mergerPet DRx shareholders are expected to receive $0.34 – $0.36 per share in cash.
GLG 05/17/2010 Man Group (N/A) $1.6 billion $4.50 $4.44 09/30/2010 1.35% 6.17%
Details of GLG Partners Inc Common Stock

Expected to close by the third quarter of 2010 for a closing value of approximately $1.6bn. On the completion of the merger, GLG Partners shareholders will receive $4.50 per share in cash.

STBK 03/18/2010 Roma Financial Corp (ROMA) $14.7 million $2.52 $2.4932 08/16/2010 1.07% 11.21%
Details of Sterling Banks, Inc.
Expected to close in the third quarter of 2010 for a closing value of $14.7 million. The cash deal is @ $2.52 per share
PFWD 04/16/2010 Oracle Corp. (ORCL) $685 million $17.00 $16.82 06/30/2010 1.07% 0.00%
Details of Phase Forward Incorporated
Expected to close in the middle of the year 2010 for a value of $685mn. Oracle is paying $17 per share in cash.
ORCD 03/16/2010 eMusic (N/A) $12.77 million $2.05 $2.03 08/16/2010 0.99% 10.27%
Details of The Orchard Enterprises, Inc
Expected to close by the third quarter of 2010 for $12.7 million @ $2.05 per share.
VIRL 06/10/2010 Synopsys (SNPS) $315 million $12.00 $11.89 12/31/2010 0.93% 1.96%
Details of Virage Logic Corp

Expected to close in the fourth quarter of 2010 for a closing value of $315 million. The deal values Virage at $12 per share.

RCNI 03/05/2010 ABRY Partners (N/A) $536 million $15.00 $14.87 09/30/2010 0.87% 3.99%
Details of RCN Corp.
Expected to close by the Second half 2010 for a closing value of $536mn. It is a cash deal @ $15.00 per share
MDNU 06/11/2010 Danone (N/A) $62.3 million $4.00 $3.97 09/30/2010 0.76% 3.45%
Details of Medical Nutrition USA
Expected to close in the third quarter of 2010 for a closing value of $62.3 million. On the completion of the merger, shareholders of Medical Nutrition USA will receive $4 per share in cash.
ATSI 04/29/2010 Medtronic (MDT) $350 million $4.00 $3.97 09/30/2010 0.76% 3.45%
Details of ATS Medical, Inc.
Expected to close by September 30 for a value of $350mn. Medtronic is offering ATS Medical $4 per share
VTIV 05/06/2010 Thomas H. Lee Partners (N/A) $1.1 billion $26.00 $25.81 09/30/2010 0.74% 3.36%
Details of inVentiv Health, Inc.

Expected to close by the third quarter of 2010 for a closing value of approx $1.1bn. Under the terms of the agreement, which has been approved by inVentiv’s board of directors, inVentiv shareholders will receive $26.00 in cash for each share of VTIV common stock they hold.

BSMD 05/13/2010 Merit Medical Systems (MMSI) $96 million $4.38 $4.35 09/30/2010 0.69% 3.15%
Details of BioSphere Medical, Inc.
Expected to close in the third quarter of 2010 for a closing value of $96mn.If the merger is completed, BioSphere Medical shareholders will receive $4.38 per share in cash.
WEL 04/09/2010 Halliburton Company (HAL) $240 million $3.00 $2.98 09/30/2010 0.67% 3.06%
Details of Boots and Coots, Inc. Common St
Expected to close in the summer of 2010 for a value of $240mn. The $3 cash & stock deal consists of $1.73 in cash and $1.27 in Halliburton stock.
ODSY 05/24/2010 Gentiva Health Services (GTIV) $1.0 billion $27.00 $26.82 09/30/2010 0.67% 3.06%
Details of Odyssey Healthcare, Inc.
Expected to close in the third quarter of 2010 for a closing value of $1.0bn. On the completion of the merger, Odyssey HealthCare shareholders will receive $27.00 per share in cash.
QUOT 06/11/2010 LQ Acquisition (N/A) $19 million $4.00 $3.98 09/30/2010 0.50% 2.29%
Details of Life Quotes

Expected to close in the third quarter of 2010 for a closing value of $19 million. On the completion of the merger Life Quotes shareholders will receive $4.00 per share in cash.

IDC 05/04/2010 Silver Lake & Warburg Pincus (N/A) $3.4 billion $33.86 $33.70 09/30/2010 0.47% 2.17%
Details of Interactive Data Corporation Co
Expected to close by the third quarter of 2010 for a cosing value of $3.4bn. According to the deal, Interactive Data shareholders will receive $33.86 per share in cash.
SNWL 06/03/2010 investor group led by private equity firm Thoma Bravo LLC (N/A) $636 million $11.50 $11.45 12/31/2010 0.44% 0.93%
Details of SonicWall
Expected to close by the end of the year for a closing value of $636mn.On the completion of the merger SonicWall shareholders will get $11.50 per share in cash.
SY 05/12/2010 SAP (SAP) $5.8 billion $65.00 $64.77 09/30/2010 0.36% 1.62%
Details of Sybase, Inc. Common Stock
Expected to close in the third quarter of 2010 for a closing value of $5.8bn. If the merger is completed, Sybase shareholders will receive $65.00 per share in cash.
NADX 04/05/2010 GDC Holdings Inc. (N/A) $100 million $17.00 $16.94 09/30/2010 0.35% 1.62%
Details of National Dentex Corporation

Expected to close at the end of the quarter ending June 30 for a value of $100mn. The deal is @ $17.00 per share in cash.

DBTK 05/17/2010 Vision Solutions (N/A) $242 million $10.55 $10.52 09/30/2010 0.29% 1.30%
Details of Double-Take Software, Inc.
Expected to close by the third quarter of 2010 for a closing value of $242mn. On the completion of the merger, Double-Take Software shareholders will receive $10.55 per share in cash.
SMTS 06/16/2010 Covidien (COV) $299 million $25.00 $24.94 07/31/2010 0.24% 4.62%
Details of Somanetics Corp.
Expected to close on July 21, 2010 for a closing value of $299 million. On the completion of the merger Somanetics shareholders will receive $25 per share in cash.
CYBS 04/21/2010 Visa Inc. (V) $2.0 billion $26.00 $25.94 09/30/2010 0.23% 1.06%
Details of CyberSource Corporation
Expected to close in Visa’s Fourth Fiscal Quarter ending in September for a closing value of $2bn. The closing price for the cash deal is at a price of $26.00 per share.
RBI 03/15/2010 affiliate of Oncap Management Partners L.P. (N/A) $13.55 $13.52 08/16/2010

0.22%

2.31%
Details of Sport Supply Group, Inc
Expected to close in the second or third quarter of 2010. ONCAP has the unilateral option to terminate the merger agreement by paying to Sport Supply Group a termination fee of either $6,000,000 or $10,000,000, depending on whether financing is available to ONCAP. It is a cash deal @ $13.55
GNA 06/02/2010 Gerdau (GGB) $1.7 billion $11.00 $10.98 08/31/2010 0.18% 1.33%
Details of Gerdau Ameristeel Corporation
Expected to close by August 31, 2010 for a closing value of $1.7 billion. On the completion of the merger Gerdau Ameristeel shareholders will receive $11.00 per share in cash.
STST 06/30/2010 Boeing (BA) $775 million $34.50 $34.44 09/30/2010 0.17% 0.79%
Details of Argon ST
Expected to close by the end of the second quarter for a closing value of $755 million.On the completion of the merger, stockholders of Argon ST will receive $34.50 per share in cash.
SXE 05/07/2010 CGI Group (N/A) $904 million $37.50 $37.44 09/30/2010 0.16% 0.73%
Details of Stanley, Inc. Common Stock
Expected to close during the fall of 2010 for a closing value of $904mn. CGI will pay shareholders $37.50 for each share of Stanley.
CPII 05/10/2010 Comtech (CMTL) $472.3 million $15.63 $15.61 09/30/2010 0.11% 0.48%
Details of CPI International, Inc.

Expected to close in the third quarter of 2010 for a closing alue of $472.3mn. If the merger is completed, CPI International shareholders will receive a combination of $9.00 in cash plus a fraction of Comtech common stock equal to $8.10 divided by the average closing price of Comtech common stock over a specified period of time prior to closing, provided that the fraction shall not be greater than 0.2382 nor less than 0.2132.

AIPC 06/21/2010 Ralcorp Holdings (RAH) $1.2 billion $53.00 $52.95 09/30/2010 0.09% 0.43%
Details of American Italian Pasta
Expected to close during Ralcorp Holding's fourth fiscal quarter ending Sept. 30 for a closing value of $1.2 billion. On the completion of the merger, Ralcorp Holdings will pay shareholders of American Italian Pasta $53 per share in cash
SBP 06/24/2010 ABLASA (N/A) N/A $12.69 $12.68 07/22/2010 0.08% 2.88%
Details of Santander Bancorp
Expected to close by July 22, 2010 unless extended. On the completion of the merger Santander BanCorp shareholders will receive $12.69 per share in cash.
MIL 03/01/2010 Merck (MRK) $6 billion $107.00 $106.93 09/30/2010 0.07% 0.30%
Details of Millipore Corporation Common St
Expected to close by the second half of 2010 for a closing value of $6bn. It is a cash deal @ $107 per share
VRAD 05/17/2010 Providence Equity (N/A) $294 million $17.25 $17.24 09/30/2010 0.06% 0.26%
Details of Virtual Radiologic Corporation

Expected to close by the third quarter of 2010 for a closing value of $294mn. On the completion of the merger, Virtual Radiologic shareholders will receive $17.25 per share in cash.

CRN 04/19/2010 GeoGroup (GEO) $685 million $27.89 $27.88 09/30/2010 0.02% 0.08%
Details of Cornell Corrections, Inc. Commo
Expected to close in the third quarter of 2010 at an estimated enterprise value of $685 million based on the closing prices of both companies
TSFG 05/17/2010 TD Bank Financial Group (N/A) $61 million $0.28 $0.28 09/30/2010 0.00% 0.00%
Details of The South Financial Group Inc.
Expected to close by the third quarter of 2010 for a closing value of $61mn. On the completion of the merger, The South Financial Group shareholders will receive either $0.28 in cash or 0.004 shares of TD Bank Financial Group common stock per The South Financial Group common share held.
CKR 03/01/2010 Apollo Management VII (N/A) $694 million $12.55 $12.55 07/07/2010 0.00% 0.00%
Details of CKE Restaurants, Inc. Common St
Expected to close by June 30 for a closing value of $694 mn.CKE scrapped the THL deal and accepted Apollo's takeover bid @ $12.55 per share.
EVVV 06/01/2010 Covidien plc (COV) $2.6 billion $22.50 $22.50 07/31/2010 0.00% 0.00%
Details of ev3

Expected to close by July 31, 2010 for a closing value of $2.6bn. Covidien will pay $22.50 in cash for each ev3 share.

NGA 04/01/2010 AZZ Inc. (AZZ) $125.6 million $7.50 $7.51 08/31/2010 -0.13% -0.97%
Details of North American Galvanizing & Co
Expected to close by the end of AZZ’s fiscal second quarter, Aug. 31for a value of $125.6 million. AZZ plans a cash tender offer for NAGC of $7.50 per share
VRX 06/21/2010 Biovail Corporation (BVF) $3.3 billion $51.21 $52.08 12/31/2010 -1.67% -3.53%
Details of Valeant Pharmaceuticals
Expected to close by the end of 2010 for a closing value of roughly $3.3 billion. Valeant stockholders will get a one-time special cash dividend of $16.77 per share and 1.7809 shares of Biovail common stock. The combined company will pay an additional $1/share dividend to all stockholders of the new entity.
CAL 05/03/2010 United (UAUA) $1.2 billion $22.43 $22.92 12/31/2010 -2.15% -4.56%
Details of Continental Airlines, Inc. Comm
Expected to close by the end of 2010 for a closing value of approximately $1.2bn. In the merger, Continental shareholders will receive 1.05 shares of United common stock for each Continental common share they own.
ABII 06/30/2010 Celgene (CELG) $2.9 billion $71.39 $74.12 12/31/2010 -3.68% -7.81%
Details of Abraxis Bioscience Inc.

Expected to close in the fourth quarter of 2010 for a closing value of $2.9 billion. Under terms of the deal, shareholders of Abraxis will receive $58 and 0.2617 shares of Celgene for each Abraxis share they own.

ARD 04/04/2010 SandRidge Energy Inc. (SD) $1.6 billion $32.40 $34.16 09/30/2010 -5.14% -23.44%
Details of Arena Resources Inc Common Stoc
Expected to close during the second or third quarter of 2010 for a value of $1.6bn. The stock-cash merger is @ 4.7771 shares of SandRidge common stock and $2.50 in cash for each share of Arena common stock.
TLCR 06/07/2010 Grifols (N/A) $3.4 billion $19.00 $21.31 12/31/2010 -10.84% -23.00%
Details of Talecris
Expected to close by the end of the year for a closing value of $3.4 billion. On the completion of the merger Grifols will pay $19 in cash and 0.641 newly issued, nonvoting shares for each share of Talecris.
DTG 04/26/2010 Hertz (HTZ) $1.3 billion $39.32 $45.78 12/31/2010 -14.11% -29.95%
Details of Dollar Thrifty Automotive Group
Expected to close by the end of the year for a value of $1.3 billion. The transaction values Dollar Thrifty stock at approximately $41.00 per share. the $41.00 per share purchase price is comprised of 80% cash consideration and 20% stock consideration. The cash portion will be paid in two components; (1) a $200 million special cash dividend representing approximately $6.88 per share, to be paid by Dollar Thrifty immediately prior to the transaction closing and (2) $25.92 per share to be paid by Hertz at the closing. The stock is at a fixed exchange ratio of 0.6366 per share, based upon a Hertz common stock closing price of $12.88 per share on April 23, 2010.
MCCC 06/01/2010 Chief Executive Rocco Commisso (N/A) $590 million $6.00 $7.01 N/A -14.41% 0.00%
Details of Mediacom Communications Corporation
CCE 02/25/2010 The Coca-Cola Company (KO) $12.3 billion N/A $27.68 10/01/2010 N/A N/A
Details of Coca-Cola Enterprises, Inc. Com
Expected to close by October 1, 2010 for a closing value of $12.3 billion. The deal includes $10 per share + a share in a new bottling company
Source: Merger Arbitrage Mondays: July 12, 2010