Overview
- The beauty groups, which confirmed Monday they are discussing a possible combination, say no agreement has been reached.
- Following Tuesday’s trading, Puig shares jumped about 14–17% in Madrid while Estée Lauder fell roughly 7–8% in New York.
- Reports from the Wall Street Journal and others say talks include cash and stock, with some outlets describing a potential Estée Lauder takeover that would make Puig a subsidiary, which the companies have not confirmed.
- A tie-up would blend Puig’s strength in fragrances with Estée Lauder’s scale in skincare and makeup, creating a group valued around €35–40 billion with close to $20 billion in yearly sales.
- Analysts flag issues to watch such as family voting control, governance, brand integration, and Estée Lauder’s ongoing turnaround after losses and planned job cuts, which could shape timing and effects for employees and investors.