Olaplex Holdings, Inc. (OLPX) shares surged 50.38 percent to $2.00, gaining $0.67 on Thursday, after the company agreed to be acquired in an all-cash transaction.
The stock is currently trading at $2.00 compared with its previous close of $1.33. Shares opened at $1.9950 and traded between $1.9900 and $2.0100 during the session on the Nasdaq. Trading volume reached about 75.80 million shares, sharply above the average volume of about 1.87 million shares.
Olaplex said it entered into a definitive agreement to be acquired by Henkel AG & Co. KGaA for $2.06 per share in cash, valuing the company at about $1.4 billion. The offer represents a roughly 55 percent premium to the prior close, which pushed shares near the deal price as investors priced in the acquisition. Under the agreement, Olaplex will continue operating under its brand name, while Advent International will fully exit its investment at closing.
The stock has traded in a 52-week range of $0.9920 to $2.0100.
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