The Guardian | Estée Lauder ends merger talks with Gaultier owner Puig by Mark Sweney
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Estée Lauder announced on Thursday that it has ended merger talks with Spanish rival Puig after the parties could not agree on the balance of power and board composition in a proposed $40 billion beauty‑fashion powerhouse. The talks, first reported in March, had stalled over which family would control the combined group and the compensation demanded by brands such as Charlotte Tilbury. While the merger speculation had previously sent Estée Lauder’s market value down by about a fifth, its shares jumped 11.5 % in post‑market trading after the termination, reflecting investor relief. Both companies said they remain confident in their standalone strategies, with Estée Lauder reaffirming its strong brand portfolio and Puig emphasizing its continued selective M&A approach.
Read more: https://www.theguardian.com/business/2026/may/22/estee-lauder-ends-merger-talks-gaultier-owner-puig
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