Law Firm Brower Piven Announces Investigation in Connection with Physician’s Formula Holdings, Inc. Buyout
August 16 2012 - 5:38PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, is
announcing an investigation into Physician’s Formula Holdings, Inc.
(“Physician’s Formula” or the “Company”) (Nasdaq: FACE) and Swander
Pace Capital’s (“Swander Pace”) proposed merger agreement (
“Proposed Buyout”) in which Swander Pace affiliates will acquire
all outstanding shares of Physician’s Formula’s common stock at
$4.25 per share (or approximately $65 million).
According to Bloomberg, as recently as August 6, 2012, one
analyst had set a high price target of $5.00 per share. Moreover,
the EBITDA, revenue, and total asset multiples for the Proposed
Buyout are lower than the median multiples for comparable
transactions.
The Proposed Buyout, subject to various closing conditions, is
expected to close later this year. Upon completion, Physician’s
Formula’s stockholders will cease to have any equity interest in
the Company and will have no right to participate in its earnings
and future growth.
If you currently own shares of Physician’s Formula and would
like to learn more about the investigation, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt
to answer your questions. You may contact Brower Piven by email at
hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower
Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson,
Maryland 21153. Attorneys at Brower Piven have combined experience
litigating securities and other class action cases of over 60
years.
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