Physicians Formula takeover by Markwins approved by stockholders
Acquisition to be made by mid-December, 2012
The acquisition of Physicians Formula Holdings, Inc. by Markwins International Corporation was approved yesterday at the meeting of stockholders.
The closing of the deal is expected to occur by mid-December, 2012, but is subject to the satisfaction or waiver of remaining closing conditions. Markwins International Corporation will acquire all of Physicians Formula’s outstanding shares of common stock for $4.90 per share or approximately $74.9m.