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00:02Estee Lauder said Monday, it is in talks to acquire Puig in a deal that could combine
00:06two major beauty companies, according to the Wall Street Journal. The company confirmed
00:11discussions following a Wall Street Journal report and said no agreement is guaranteed.
00:16The companies have discussed a transaction involving cash and stock.
00:20Puig is based in Barcelona and has a market value of about $10 billion.
00:24The company went public in 2024, and its shares have underperformed amid sluggish fragrance
00:30demand. Estee Lauder has a market value of more than $30 billion and completed a roughly
00:36$2.8 billion acquisition of Tom Ford in late 2022, its largest deal at the time.
00:42The company is undergoing a multi-year turnaround to expand market share and attract younger
00:47consumers with newer brands.
00:49For all things money, visit Benzinga.com.
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