Merger Arbitrage Mondays – September 06, 2010

Merger activity increased last week with five new deals announced and three deals closing.

Deal Statistics:

New Deals:

1. The acquisition of A.D.A.M Inc. (ADAM) by Ebix (EBIX) for $66 million in an all stock deal where shareholders of ADAM will receive 0.3122 of Ebix stock for each share held in ADAM
2. The acquisition of Cogent Inc. (COGT) by 3M (MMM) for $943 million at $10.50 per share in cash
3. The acquisition of American Physicians Service Group (AMPH) by ProAssurance (PRA) for $233 million at $32.50 per share in cash

Closed Deals:

1. The acquisition of Gerdau Ameristeel Corporation (GNA) by Gerdau S.A. on August 30, 2010
2. The acquisition of William Pipeline Partners (WMZ) by William Partners on September 01, 2010
3. The acquisition of Virage Logic Corporation (VIRL) by Synopsis Inc. on September 02, 2010

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