Olaplex Said to Attract Takeover Offer From Germany’s Henkel

Henkel AG has submitted a takeover offer for Olaplex Holdings Inc, according to people with knowledge of the matter, after the shampoo maker lost over 90% of its value since its initial public offering. The stock rose more than 36%.

Olaplex and Dusseldorf, Germany-based Henkel are in talks about a potential deal that could come together within weeks, said the people, asking not to be identified discussing confidential information. Private equity firm Advent is Olaplex’s largest shareholder, with close to 75% ownership, according to data compiled by Bloomberg.