Swander Pace To Take Cosmetics Co. Private In $65M Deal

Law360, New York (August 15, 2012, 1:20 PM EDT) -- San Francisco private equity firm Swander Pace Capital has agreed to acquire California skin care company Physicians Formula Holdings Inc. in a $65 million take-private transaction, the companies announced Wednesday.

Swander Pace agreed to purchase all the outstanding shares of Azusa, Calif.-based Physicians Formula for $4.25 per share in cash, it said. The share price is a roughly 15 percent premium over Physicians Formula's Tuesday closing stock price of $3.68 on the New York Stock Exchange.

The proposed share price is also a 21 percent premium...
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