Parlux Fragrances (PARL) Merger Agreement with Perfumania Holdings, Inc.

Welcome to CRWENewswire, Stocks to Watch. I am Lynn Lumpkin. According to a definitive merger agreement between the companies, Perfumania Holdings, Incorporated would acquire all of the outstanding shares of Parlux Fragrances Incorporated - symbol PARL - in a transaction valued at approximately $170 million. Parlux stockholders will be entitled to elect between mixed stock and cash consideration and principally stock consideration under the merger agreement. The merger is expected to close in the first half of 2012. Parlux is a manufacturer and international distributor of prestige fragrances and beauty related products and is one of Perfumania’s largest trading partners. Thanks for joining me and have a great day! For CRWE Newswire, Stocks to watch, I’m Lynn Lumpkin