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Estée Lauder surges in premarket after Puig merger deal talks end
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- Estée Lauder's shares were up almost 10% in premarket trading after talks over a potential merger with Spanish beauty group Puig were "terminated."
- "We are grateful for the conversations we have had with Puig," Estée's president and CEO, Stéphane de La Faverie, said in the statement.
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Estée Lauder's shares were up almost 10% in premarket trading after talks over a potential merger with Spanish beauty group Puig were "terminated."
The British beauty giant, which owns the Clinique and Tom Ford Beauty brands and is listed on the New York Stock Exchange, said in March that it was in discussions with Puig, the owner of Charlotte Tilbury and Jean Paul Gaultier, to combine the companies.
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