Shareholders of Physicians Formula Holdings Inc. have approved the company's acquisition by Markwins International Corp.


Physicians Formula, Markwins, acquisition, Swander Pace Capital, cosmetics, skin care, mass market prestige, masstige






































































































































































































































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Physicians Formula shareholders OK sale to Markwins

November 8th, 2012

AZUSA and CITY OF INDUSTRY, Calif. – Shareholders of Physicians Formula Holdings Inc. have approved the company's acquisition by Markwins International Corp.

The companies said the $75 million acquisition deal, announced in late September, was given the green light Thursday at Physicians Formula's stockholder meeting.

With the finalization of the transaction, Physicians Formula — which provides cosmetics and skin care products for the mass market prestige, or "masstige," market — will be owned by Markwins. The closing is expected to occur by mid-December.

Before entering into the agreement with Markwins, Physicians Formula terminated a $65 million deal to be acquired by affiliates of Swander Pace Capital, which would have taken Physicians Formula private.

Under the arrangement with Swander Pace Capital, Physicians Formula agreed pay a termination fee of about $1.29 million to the private equity firm's affiliates.

*Editor's Note: Physicians Formula updated the transaction closing date.

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