The US cosmetics company Estee Lauder and its Spanish competitor Puig are negotiating a merger. Both companies confirmed corresponding discussions on Monday. However, no agreement has yet been reached and there is no certainty of a conclusion, Puig said. According to a report in the Wall Street Journal, this involves a combination of cash payment and stock exchange. The Financial Times newspaper reported that the merger would create an industry giant worth $40 billion. The shares of Estee Lauder, which is valued at around $31 billion on the stock market, fell by around seven percent at the close of trading.
