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Estee Lauder falls after report that company is nearing a deal to merge with Puig

ReutersMar 23, 2026 7:51 PM

Shares of cosmetics maker Estee Lauder EL.N fall 7.4% to $79.68

EL is nearing deal to combine with Jean Paul Gaultier-owner Puig PUIGb.MC, the Financial Times reports

The tie-up would create a $40 billion beauty giant, FT says

Deal could be announced as soon as Monday

EL had fallen ~18% so far in 2026, as of Friday's close

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