Physicians Formula – FACE – Updates Timing of Its Expected Acquisition by Markwins

Nasdaq:FACE) announced that it has been informed by Markwins International Corporation that Markwins will not close the acquisition of Physicians Formula on or before November 13, 2012 as previously announced, but that Markwins intends to close the acquisition by mid-December 2012. Physicians Formula is evaluating its rights and remedies in light of this development.

As previously announced, Physicians Formula entered into an agreement and plan of merger dated September 26, 2012 with Markwins and Markwins Merger Sub, Inc. At a special meeting of stockholders of Physicians Formula held on November 8, 2012, the stockholders of Physicians Formula approved the acquisition of Physicians Formula by Markwins contemplated by the merger agreement.

Physicians Formula Holdings, Inc. (FACE) and Markwins International Corporation  announced on Nov 8^th 2012, that the stockholders of Physicians Formula approved the acquisition of Physicians Formula by Markwins at the meeting of stockholders of Physicians Formula held on November 8, 2012.

Upon the closing of the transaction, Physicians Formula will be owned by Markwins. The closing was expected to occur on or before November 13, 2012, but would be subject to the satisfaction or waiver of remaining closing conditions.

About Markwins International Corporation

Based in City of Industry, California, Markwins International Corporation is a global leader in color cosmetics, cosmetic accessories and beauty collections. Founded by CEO Eric Chen nearly 30 years ago, the privately-held company is recognized as a top 20 purveyor in the global cosmetic industry. With over 3,000 employees, Markwins brands cater to and reach consumers of all ages, ethnicities and skin tones. The Markwins brand portfolio includes wet n wild®, The Color Workshop®, Black Radiance®, The Color Institute® and POP® amongst many others. As of September 2012, Markwins brands can be found in over 42,000 retail outlets including Department, Specialty, Mass, Drug and Food stores, and are available in more than 60 countries, spanning 6 continents.

About Physicians Formula Holdings, Inc. – FACE

Physicians Formula (FACE) is an innovative cosmetics and skin care company operating in the mass market prestige, or “masstige,” market. Under our Physicians Formula brand name, created in 1937, we develop, market and distribute innovative, premium-priced products for the mass market channel. We differentiate our company by addressing skin imperfections through a problem-solving approach, rather than focusing on changing fashion trends. Currently, our products are sold in over 25,000 stores including those operated by Wal-Mart, Target, CVS and Rite Aid.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.