Estee Lauder falls after report that company is nearing a deal to merge with Puig

Puig Brands

23/03/2026 19:51

** Shares of cosmetics maker Estee Lauder EL.N fall 7.4% to $79.68

** EL is nearing deal to combine with Jean Paul Gaultier-owner Puig PUIGb.MC, the Financial Times reports

** The tie-up would create a $40 billion beauty giant, FT says

** Deal could be announced as soon as Monday

** EL had fallen ~18% so far in 2026, as of Friday's close

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com))