CPEX, Footstar deal

Subsidiaries owned by holding company Footstar and an unaffiliated investment holding company will acquire CPEX for $27.25 per share in cash. The price is an 11% premium to CPEX's close of $24.55 on Jan. 4, before the deal was announced, and values the company at $71.3 million based on 2.6 million shares outstanding at Nov. 8, 2010. The deal, which is expected to close next quarter, has been approved by Footstar's board and is subject to CPEX stockholder approval. RBC Capital Markets advised CPEX. ...