Germany’s Henkel is in advanced talks to buy U.S. hair care brand Olaplex in a deal that would value the company at about $2 per share, Bloomberg News reported on Wednesday, citing sources.
Here are some details:
- Shares of Olaplex were up over 14% at $1.52 in after-hours trading following the report.
- At $2 per share, a deal for Olaplex would represent a more than 50% premium to the stock’s last close and value the company at about $1.34 billion, Reuters calculations show.
- Olaplex has a current market value of $890.3 million, according to Reuters calculations.
- Bloomberg News first reported in January that Olaplex had drawn a takeover offer from Henkel.
- Shares of Olaplex rose about 32% since the initial Bloomberg report, before falling back to pre-report levels after the company warned of a weak first quarter earlier this month.
- Henkel could announce a deal for Olaplex in the coming days, the latest Bloomberg report said.
- Henkel and Olaplex did not immediately respond to Reuters’ requests for comment outside regular business hours.
- Frankfurt-listed Henkel is valued at about 28.46 billion euros ($32.89 billion), according to LSEG data.
