US Stocks Movement: Estée Lauder drops over 8%, currently in merger talks with Spanish beauty group Puig
- Golden Finance March 24｜Estée Lauder (EL.US) fell 8.4%, closing at $72.63. According to reports, Estée Lauder issued a statement saying it is in discussions with Spanish beauty group Puig regarding a potential merger. The company has not yet made a final decision nor reached any agreement.
- Public information reveals that Puig, originally founded in 1914 as a perfume company, owns brands spanning perfume, fashion, makeup, and skincare. Representative brands include Byredo and Penhaligon’s.
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