Market Chatter: Estee Lauder Asks JP Morgan to Assemble $5.88 Billion Financing Package for Acquisition of Puig

MT Newswires Live04-21

Estee Lauder (EL) has retained JPMorgan (JPM) to come up with a financing package of about 5 billion euros ($5.88 billion) to fund its takeover of Puig, the Spanish business newspaper Expansion reported Tuesday.

Puig's brands include Rabanne, Carolina Herrera, Charlotte Tilbury, Jean Paul Gaultier, Nina Ricci and Byredo.

Estee Lauder's takeover bid includes cash and stock, the report said.

"If an agreement is reached between the parties, the bulk of the transaction will be structured through an exchange of special shares," the report said.

Estee Lauder, JP Morgan, and Puig didn't immediately reply to MT Newswires' request for comment.

(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.)

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