Estee Lauder (EL) and Puig Brands are in advanced talks to combine and form one of the world's largest luxury beauty companies, Bloomberg reported Wednesday, citing people familiar with the matter.
The companies are discussing a mostly all-stock deal that could be announced within weeks, according to the report.
Marc Puig, executive chairman of Puig Brands, would join the board and is expected to be crucial to the business combination, the report said.
The companies have not finalized an agreement and the talks could still fall through or the timing could change, Bloomberg added.
Estee Lauder did not immediately respond to a request for comment by MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Comments