FACTBOX-Spreads of U.S. mergers and acquisitions

April 17 (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 NAME TARGET NAME DEAL PRICE/SHARE SPREAD%

VALUE*
Microsoft Corp Yahoo Inc 43,246 31 9.5
Consortium Clear Channel 19,350 39.2 42.55
CME Group NYMEX Holdings 11,071 101.74 6.42
Ingersoll-Rand Trane Inc 9,2083 47 0.74
Takeda Pharma Millennium Pharma 8,121 25 2
Oracle Corp BEA Systems 7,941 19.38 0.81
Nokia NAVTEQ Corp 7,657 78 10.89
Blackstone Alliance Data 6,4338 81.75 60.29
Hexion Specialty Huntsman Corp 6,213 28 27.62
Consortium Penn National 5,732 67 67.29
Sirius Satellite XM Satellite 4,570 11.27 4.93
Iberdrola SA Energy East 4,202 33.62 43.87
Bank of America Countrywide 4,143 6.74 35.03
Reed Elsevier ChoicePoint 3,576 50 3.31
Consortium Puget Energy 3,510 30 13.68
Delta Air Lines Northwest Airlines 2,958 10.78 12.83
WebMD Health HLTH Corp 2,897 12.11 15.23
Macrovision Corp Gemstar TV Guide 2,724 6.35 33.97
United Tech Diebold Inc 2,631 40 5.21
Mapfre SA Commerce Group 2,316 36.7 0.91
Nationwide group Nationwide Financial 2,204 47.2 -4.16
Consortium Post Properties 2,054 47 19.26
Agrium Inc UAP Hldg Corp 2,045 39 0.83
Hellman & Friedman Getty Images 2,024 34 5.62
Electronic Arts Take-Two 1,932 26 -0.34
Kinetic Concepts Lifecell Corp 1,743 51 0.75
Great Plains Aquila Inc 1,701 3.98 13.95
JPMorgan Chase Bear Stearns 1,693 9.78 -3.74
Gerdau SA Quanex Corp 1,457 39.2 -28.15
Blockbuster Circuit City 1,346 8 71.67
Management CKX Inc 1,334 13.75 57.14
Swingset Holdings Bright Horizons 1,268 48.25 6.18
Dubai Int'l Och-Ziff 1,258 33 71.79
VISTAR Corp Performance Food 1,224 34.5 5.05
Fifth Third First Charter 1,089 31 4.03
TZ Holdings TriZetto Group 948 22 7.32
Inverness Medical Matria Healthcare 835 39 80.22
BMC Software BladeLogic 775 28 0.04
Ansys Inc Ansoft Corp 760 33.16 1.49
Verizon Wireless Rural Cellular 679 45 1.53
Sumitomo Heavy, TPG Axcelis Tech 613 6 8.89
Tullett Prebon eSpeed Inc 605 12 0.08
Golden Gate Children's Place 577 24 9.09
O'Reilly Auto CSK Auto 528 12 3.09
Investor group Cumulus Media 507 11.75 100.85
NOTE: * Deal values in millions of U.S. dollars
SOURCE: Reuters
(Reporting by Jessica Hall; editing by Jeffrey Benkoe)
(For more M&A news and our DealZone blog, go to
here)