Julie Morgan
👤 SpeakerAppearances Over Time
Podcast Appearances
It's good to have you here on this Thursday, March 26th.
Olaplex Holdings is up 49% in pre-market action.
Olaplex agreed to be acquired by German consumer giant Henkel.
The all-cash transaction is valued at $1.4 billion.
The $2.06 per share cash offer represents a massive 55% premium over Olaplex's March 25th closing price and a premium of approximately 45% over the volume-weighted average price for the last 30 trading days.
The deal is expected to be completed in the second half of this year.
At that time, Olaplex will be delisted from the Nasdaq, but will continue to operate as a standalone brand with Henkel's professional hair care portfolio.
Notably, Advent International, which holds a majority of the voting power in Olaplex, has already provided written consent for the transaction, so no further action is needed from other stockholders.
Advent will fully exit its investment upon closing.
JetBlue closed the day Wednesday up 13% on a report that it's evaluating plans to sell itself to a rival airline.
According to a semaphore report on Wednesday, which cited people familiar with the matter, JetBlue has tapped advisors to see how a deal with United Airlines, Alaska Airlines, or Southwest Airlines might be perceived in Washington.
According to the report, this is preliminary, and the airline may decide to keep the status quo and not try to sell itself.
It was not known whether JetBlue had held any talks or received indications of interest.
JetBlue declined to comment on internal talks to Semaphore.
United and Southwest also declined to comment.
Alaska Air did not immediately respond to a request for comment.
Shares of rival airlines rose after the Semaphore report.
A jury in Los Angeles determined Wednesday that meta platforms and Google were responsible for inducing addictive behavior in a young woman.
She began using social media platforms as a child.