On the whole, a pick-up in volume has been a boon to
merger-focused arbitrageurs in 2005. But few fared as well in
March as Timothy Barakett's Atticus, which picked up a
rock-solid 5% for the month in Class-A shares of its $1 billion
Atticus Global Ltd. fund. The monthly gain was one of the best
on record for the fund, which has managed average annualized
returns of roughly 19.5% since inception six years ago. The
March gain lifted the...