ISS recommends Aeterna Zentaris, Ceapro securityholders vote for merger

Aeterna Zentaris and Ceapro announced that independent proxy advisor Institutional Shareholder Services recommended that both companies’ securityholders vote FOR the all-stock merger of equals transaction pursuant to the terms announced on December 14, 2023. Following its assessment of the Transaction, ISS stated in its Aeterna Zentaris VOTE FOR recommendation, among other things, that: “On balance, the deal has strong strategic merit, third party solicitation was unable to generate any other actionable proposals, and governance conflicts appear to have been reasonably managed.” ISS noted, among other things, in its Ceapro VOTE FOR recommendation: “The arrangement is the result of arm’s length negotiations between the parties and carries sound strategic logic.”