Merger Arbitrage Mondays – December 13, 2010

Merger activity remained steady last week with four new deals announced and two deals closing. You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Based on feedback we received from some of you, the tool has been updated to add two new columns. These two new columns are deal type (all cash, all stock or cash plus stock) and the average daily volume.

As always we welcome your feedback about the Merger Arbitrage tool, the format of these emails or any updates to deals that we may have missed.

Deal Statistics:

New Deals:

1. The acquisition of Mercer Insurance Group Inc. (MIGP) by United Fire & Casualty Company (UFCS) for $191 million or $28.25 per share in cash.
2. The acquisition of Eurand N.X. (EURX) by Axcan Holdings for $583 million or $12.00 per share in cash.
3. The acquisition of Nicor Inc. (GAS) by AGL Resources Inc. (AGL) for $2.4 billion or $53 per share in a cash plus stock deal where Nicor holders will receive $21.20 in cash and 0.8382 share of AGL for each share of Nicor they own.

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