<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>Actavis Inc.</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G0083B908</cusip>
			<value>50840</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Call</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>12400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Actavis Inc.</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G0083B108</cusip>
			<value>212363</value>
			<shrsOrPrnAmt>
				<sshPrnamt>825</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>825</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Actuate Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00508B102</cusip>
			<value>11294257</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1711251</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1711251</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Allergan Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018490102</cusip>
			<value>215363449</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1013046</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1013046</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Realty Cap Healthcare Trust I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02917R108</cusip>
			<value>169907165</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14277913</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>14277913</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amreit Inc New</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>03216B208</cusip>
			<value>29195699</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1100064</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1100064</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Annaly Cap Mgmt Inc.</nameOfIssuer>
			<titleOfClass>NOTE 4.000% 2/1</titleOfClass>
			<cusip>035710AA0</cusip>
			<value>8482500</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8352000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>741143</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Associated Estates Rlty Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>045604105</cusip>
			<value>4440352</value>
			<shrsOrPrnAmt>
				<sshPrnamt>191312</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>191312</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT&amp;T Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R952</cusip>
			<value>496188</value>
			<shrsOrPrnAmt>
				<sshPrnamt>233500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>233500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT&amp;T Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R952</cusip>
			<value>1329453</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1236700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1236700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Avanir Pharmaceuticals Inc</nameOfIssuer>
			<titleOfClass>CL A NEW</titleOfClass>
			<cusip>05348P401</cusip>
			<value>89943870</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5306423</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5306423</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVG Technologies N V</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>N07831105</cusip>
			<value>3441610</value>
			<shrsOrPrnAmt>
				<sshPrnamt>174347</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>174347</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>B/E Aerospace Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>073302951</cusip>
			<value>66588</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>76100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>B/E Aerospace Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>073302101</cusip>
			<value>22734499</value>
			<shrsOrPrnAmt>
				<sshPrnamt>391839</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>391839</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Baker Hughes Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>057224957</cusip>
			<value>42485</value>
			<shrsOrPrnAmt>
				<sshPrnamt>146500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>146500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Baker Hughes Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>057224107</cusip>
			<value>6572077</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117212</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>117212</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of Kentucky Financial Corporation</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>062896105</cusip>
			<value>11749304</value>
			<shrsOrPrnAmt>
				<sshPrnamt>243408</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>243408</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Barclays Bank Plc</nameOfIssuer>
			<titleOfClass>IPATH S&amp;P 500 VIX</titleOfClass>
			<cusip>06742E711</cusip>
			<value>2330417</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73958</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>73958</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Berry Plastics Group Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>08579W103</cusip>
			<value>5823751</value>
			<shrsOrPrnAmt>
				<sshPrnamt>184588</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>184588</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bob Evans Farms Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>096761101</cusip>
			<value>5994099</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117118</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>117118</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BPZ Resources Inc.</nameOfIssuer>
			<titleOfClass>NOTE 8.500% 10/0</titleOfClass>
			<cusip>055639AC2</cusip>
			<value>1661069</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5201000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1298100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>California Resources Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13057Q907</cusip>
			<value>9765</value>
			<shrsOrPrnAmt>
				<sshPrnamt>195300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Call</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>195300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cardinal Health Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14149Y108</cusip>
			<value>405910</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5028</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5028</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Carefusion Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14170T101</cusip>
			<value>103972996</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1752157</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1752157</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Civeo Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>178787957</cusip>
			<value>1380555</value>
			<shrsOrPrnAmt>
				<sshPrnamt>278900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>278900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Civeo Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>178787957</cusip>
			<value>40170</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>20600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Civeo Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>178787107</cusip>
			<value>1205730</value>
			<shrsOrPrnAmt>
				<sshPrnamt>293365</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>293365</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Conmed Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>207410101</cusip>
			<value>432335</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>9616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Consol Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20854p109</cusip>
			<value>6073561</value>
			<shrsOrPrnAmt>
				<sshPrnamt>179638</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>179638</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Consol Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20854P959</cusip>
			<value>30798</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>48500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Covance Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>222816100</cusip>
			<value>127282711</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1225758</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1225758</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Covidien PLC</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G2554F113</cusip>
			<value>221479158</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2165420</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2165420</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cubist Pharmaceuticals Inc</nameOfIssuer>
			<titleOfClass>NOTE 1.125% 9/0</titleOfClass>
			<cusip>229678AF4</cusip>
			<value>16321095</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12312000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>149367</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cubist Pharmaceuticals Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>229678107</cusip>
			<value>117933215</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1171716</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1171716</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cubist Pharmaceuticals Inc. (CVR)</nameOfIssuer>
			<titleOfClass>RIGHT 99/99/9999</titleOfClass>
			<cusip>229678123</cusip>
			<value>118035</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2950869</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2950869</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cypress Semiconductor Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>232806109</cusip>
			<value>4110555</value>
			<shrsOrPrnAmt>
				<sshPrnamt>287854</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>287854</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Directv</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25490A309</cusip>
			<value>202886323</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2340096</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2340096</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dish Network Corp.</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>25470m109</cusip>
			<value>1778662</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24402</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>24402</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dresser-Rand Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>261608103</cusip>
			<value>67023157</value>
			<shrsOrPrnAmt>
				<sshPrnamt>819354</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>819354</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ellis Perry Intl Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>288853104</cusip>
			<value>4955301</value>
			<shrsOrPrnAmt>
				<sshPrnamt>191103</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>191103</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E M C Corp. Mass</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>268648952</cusip>
			<value>38796</value>
			<shrsOrPrnAmt>
				<sshPrnamt>146400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>146400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E M C Corp. Mass</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>268648102</cusip>
			<value>6156418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>207008</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>207008</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Endo Intl Plc</nameOfIssuer>
			<titleOfClass>SHS</titleOfClass>
			<cusip>G30401106</cusip>
			<value>4916853</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68176</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>68176</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Energizer Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29266R108</cusip>
			<value>4809172</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37408</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>37408</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Energy XXI Ltd</nameOfIssuer>
			<titleOfClass>USD UNRS SHS</titleOfClass>
			<cusip>G10082140</cusip>
			<value>29666</value>
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				<sshPrnamt>9100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>9100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Exterran Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30225X953</cusip>
			<value>46360</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Exterran Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30225X103</cusip>
			<value>7282054</value>
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				<sshPrnamt>223513</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>223513</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Family Dollar Stores</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>307000109</cusip>
			<value>144862337</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1828839</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1828839</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gentiva Health Services Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37247A102</cusip>
			<value>24864441</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1305220</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1305220</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Glimcher Realty Tr</nameOfIssuer>
			<titleOfClass>SH BEN INT</titleOfClass>
			<cusip>379302102</cusip>
			<value>59128524</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4303386</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4303386</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Globalstar Inc.</nameOfIssuer>
			<titleOfClass>NOTE 8.000% 4/0</titleOfClass>
			<cusip>378973AD3</cusip>
			<value>3453254</value>
			<shrsOrPrnAmt>
				<sshPrnamt>763150</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1268218</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Globalstar Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>378973408</cusip>
			<value>794043</value>
			<shrsOrPrnAmt>
				<sshPrnamt>288743</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>288743</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Haemonetics Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>405024100</cusip>
			<value>407317</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10885</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10885</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hawaiian Electric Industries</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>419870100</cusip>
			<value>4428333</value>
			<shrsOrPrnAmt>
				<sshPrnamt>132268</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>132268</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HC2 Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>404139107</cusip>
			<value>3038079</value>
			<shrsOrPrnAmt>
				<sshPrnamt>360389</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>360389</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hubbell Inc.</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>443510201</cusip>
			<value>6707642</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62788</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62788</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hubbell Inc.</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>443510952</cusip>
			<value>8260</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>47200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hudson Valley Holding Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444172100</cusip>
			<value>11756152</value>
			<shrsOrPrnAmt>
				<sshPrnamt>432848</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>432848</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Illumina Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452327109</cusip>
			<value>110748</value>
			<shrsOrPrnAmt>
				<sshPrnamt>600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>International Rectifier Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460254105</cusip>
			<value>93851503</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2352168</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2352168</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Juniper Networks Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48203R104</cusip>
			<value>5521008</value>
			<shrsOrPrnAmt>
				<sshPrnamt>247357</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>247357</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kindred Healthcare Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494580953</cusip>
			<value>73150</value>
			<shrsOrPrnAmt>
				<sshPrnamt>146300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>146300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kindred Healthcare Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494580103</cusip>
			<value>4011253</value>
			<shrsOrPrnAmt>
				<sshPrnamt>220641</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>220641</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KLX Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>482539103</cusip>
			<value>8312205</value>
			<shrsOrPrnAmt>
				<sshPrnamt>201508</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>201508</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Level 3 Communications Inc.</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>52729N308</cusip>
			<value>1762767</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35698</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35698</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Liberty Tripadvisor Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM SER A</titleOfClass>
			<cusip>531465102</cusip>
			<value>2443811</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90848</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>90848</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Macerich Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554382101</cusip>
			<value>4765547</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57134</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>57134</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Manitowoc Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>563571108</cusip>
			<value>349180</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>15800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Media Gen Inc. New</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>584441K10</cusip>
			<value>10462273</value>
			<shrsOrPrnAmt>
				<sshPrnamt>625360</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>625360</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Methanex Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59151K108</cusip>
			<value>5162979</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112655</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>112655</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Molson Coors Brewing Co</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>60871R209</cusip>
			<value>3755063</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50390</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>50390</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mylan Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>628530957</cusip>
			<value>978</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>48900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NOW Inc.</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>67011P950</cusip>
			<value>143960</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NOW Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67011P100</cusip>
			<value>6278069</value>
			<shrsOrPrnAmt>
				<sshPrnamt>243998</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>243998</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pantry Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>698657103</cusip>
			<value>30596328</value>
			<shrsOrPrnAmt>
				<sshPrnamt>825589</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>825589</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Peabody Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>704549104</cusip>
			<value>1143097</value>
			<shrsOrPrnAmt>
				<sshPrnamt>147687</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>147687</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Penford Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>707051108</cusip>
			<value>7492690</value>
			<shrsOrPrnAmt>
				<sshPrnamt>400893</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>400893</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pepco Holdings Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713291102</cusip>
			<value>27950055</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1037878</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1037878</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Platinum Underwriter Holdings L</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G7127P100</cusip>
			<value>14235477</value>
			<shrsOrPrnAmt>
				<sshPrnamt>193891</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>193891</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Prosensa Holdings N V</nameOfIssuer>
			<titleOfClass>SHS USD</titleOfClass>
			<cusip>N71546100</cusip>
			<value>10029544</value>
			<shrsOrPrnAmt>
				<sshPrnamt>534909</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>534909</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Protective Life Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>743674103</cusip>
			<value>178487040</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2562628</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2562628</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Rockwood Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>774415103</cusip>
			<value>84058954</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1066738</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1066738</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Safeway Inc.</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>786514208</cusip>
			<value>177017338</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5040357</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5040357</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Salesforce Com Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>79466L302</cusip>
			<value>249102</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sapient Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>803062108</cusip>
			<value>96546392</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3880482</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3880482</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sigma Aldrich Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>826552101</cusip>
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			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>330812</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Steris Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>859152100</cusip>
			<value>414651</value>
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				<sshPrnamt>6394</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>6394</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Susquehanna Bancshares Inc. P</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1198724</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Teleflex Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>879369106</cusip>
			<value>409104</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3563</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>T Mobile US Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872590954</cusip>
			<value>81008</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>195200</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>T Mobile US Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872590104</cusip>
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			<shrsOrPrnAmt>
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			<votingAuthority>
				<Sole>297705</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TriQuint Semiconductor Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89674K103</cusip>
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			<votingAuthority>
				<Sole>7817258</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRW Automotive Holdings Corp</nameOfIssuer>
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			<cusip>87264s906</cusip>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<putCall>Call</putCall>
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			<votingAuthority>
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			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRW Automotive Holdings Corp</nameOfIssuer>
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			<votingAuthority>
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		<infoTable>
			<nameOfIssuer>Tyson Foods Inc.</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
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			<value>15250</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<putCall>Put</putCall>
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			<votingAuthority>
				<Sole>122000</Sole>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>Tyson Foods Inc.</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>902494103</cusip>
			<value>5105902</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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		<infoTable>
			<nameOfIssuer>Valeant Pharmaceuticals Intl</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91911K902</cusip>
			<value>215250</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Viacom Inc New</nameOfIssuer>
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			<cusip>92553p201</cusip>
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			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>Volcano Corporation</nameOfIssuer>
			<titleOfClass>NOTE 1.750% 12/0</titleOfClass>
			<cusip>928645AB6</cusip>
			<value>9752703</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>299891</Sole>
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			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Volcano Corporation</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>928645100</cusip>
			<value>55717942</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3116216</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3116216</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Walter Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>93317Q105</cusip>
			<value>59064</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>42800</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Weatherford Intl Plc</nameOfIssuer>
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			<cusip>G48833100</cusip>
			<value>5922993</value>
			<shrsOrPrnAmt>
				<sshPrnamt>517292</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>517292</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Weatherford Intl Plc</nameOfIssuer>
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			<cusip>G48833950</cusip>
			<value>24388</value>
			<shrsOrPrnAmt>
				<sshPrnamt>195100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>195100</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YUM Brands Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>988498101</cusip>
			<value>11200833</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>153752</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YUM Brands Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>988498951</cusip>
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			<shrsOrPrnAmt>
				<sshPrnamt>97600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97600</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YUM Brands Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
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			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<putCall>Put</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97500</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
