Merger Arbitrage Mondays – October 03, 2011

Merger activity decreased last week with one new deal announced and one closing.

You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.

Deal Statistics:

Total Number of Deals Closed in 2011	154
Total Number of Deals Not Completed in 2011	2
Total Number of Pending Deals
Cash Deals	34
Stock Deals	22
Stock & Cash Deals	8
Total Number of Pending Deals	64

New Deals:

The acquisition of Harleysville Group (HGIC) by Nationwide Mutual Insurance for $760 million or $60.00 per share in cash.

Updated Deals:

On September 27, 2011, Renaissance Learning (RLRN) agreed to be bought by Permira Funds for about $455 million or $15.50 per share in cash after the private equity firm sweetened its offer to match a rival takeover bid from Plato Learning.

Closed Deals:

Top 10 deals with largest spreads:

Symbol	Announced Date	Acquiring Company	Closing Price	Last Price	Closing Date	Profit	Annualized Profit
GRAN	04/27/2011	FNB United Corp (FNBN)	$1.01	$0.680	09/30/2011	48.90%	-5949.14%
MHS	07/21/2011	Express Scripts, Inc. (ESRX)	$58.83	$46.89	06/30/2012	25.46%	34.29%
AATI	05/26/2011	Skyworks Solutions, Inc. (SWKS)	$5.25	$4.33	09/30/2011	21.18%	-2576.66%
TAM	01/19/2011	LAN Airlines S.A. (LFL)	$18.59	$15.58	12/31/2011	19.29%	79.10%
HRBN	06/20/2011	Tech Full Electric Company Limited (N/A)	$24.00	$20.65	12/31/2011	16.22%	66.53%
FNDT	06/27/2011	S1 Corporation (SONE)	$24.94	$23.08	12/31/2011	8.07%	33.09%
LOOP	04/27/2011	CoStar Group (CSGP)	$18.42	$17.13	12/31/2011	7.55%	30.98%
MMI	08/15/2011	Google (GOOG)	$40.00	$37.78	01/31/2012	5.88%	17.87%
GR	09/21/2011	United Technologies Corp. (UTX)	$127.50	$120.68	12/31/2069	5.65%	0.10%
ENP	07/11/2011	Vanguard Natural Resources (VNR)	$19.57	$18.72	12/31/2011	4.53%	18.57%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.

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