Estee Lauder slips on report of progress in merger talks with Puig

Puig Brands

02/04/2026 10:52

** Shares of cosmetics giant Estee Lauder EL.N down 2.2% to $69.14 premarket after report that co is advancing talks on merger with Spanish firm Puig PUIGb.MC

** Bloomberg News reports discussions are progressing toward a mostly stock‑based deal between the two family‑owned companies

** Firms said last month they were exploring a tie‑up that would create a $40 bln luxury beauty group, combining brands such as Tom Ford, Carolina Herrera, Rabanne and Clinique

** Deal could be formally announced within weeks, according to the report

** Puig Executive Chairman Marc Puig is expected to join the board and play a key role in integrating the businesses, Bloomberg says

** 10 out of 26 analysts rate stock "buy" or higher, 15 rate it "hold", one "sell"; median PT at $105 - data compiled by LSEG

** As of last close, EL stocks down 32.5% YTD

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))