Puig, the Catalan company specialized in cosmetics and perfumes, is in negotiations with Estée Lauder for a potential merger, as recognized by the National Securities Market Commission.
“Puig confirms that it is holding talks about a possible business combination with The Estée Lauder,” the company says in the information sent to the markets supervisor. The same, he adds, “would imply the potential merger of the business of both companies. No final decision has been made nor any agreement reached. As long as there is no agreement, it cannot be guaranteed that there can be an operation or its terms,” the statement closes.
As it has progressed The Wall Street Journalthe operation would lead to the creation of a cosmetic giant. The American company, listed on Wall Street, fell 8% after learning of the potential operation. This is much larger than Puig: its stock market value is close to 30 billion dollars, while that of the Catalan company was below 9 billion at the close of the stock market session this Monday. In the same, its shares have risen 3.6%.
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