Yep it will, solvent will also glue the acrylic to the MDF, use the MDF as a base layer, the place polished Formica on top of it. Very few if any solvents attack phenolic at all - phenolic being the actual plastic that Formica is usually made of (w/ wood backer of course).
The reason for *polished* Formica is so that parts are easily moved on the surface (esp if waxed).
HTH,
James