EXETER, N.H.--(BUSINESS WIRE)--CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX) today announced that ISS Proxy Advisory Services (ISS), a leading independent proxy advisory firm, has recommended that CPEX stockholders vote “FOR” CPEX’s proposed merger agreement with FCB I Holdings Inc. (FCB), under which CPEX stockholders will receive $27.25 per share in cash. The transaction price represents a 142% premium over the price of CPEX shares on January 7, 2010, the day prior to the date a third party publicly stated its intention to make an unsolicited offer for the Company, and a premium of approximately 12% over the 60-trading day average closing price of CPEX’s shares on the date prior to the announcement of the merger.
