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Spain's Puig shares jump after it confirms merger talks with Estee Lauder

ReutersMar 24, 2026 8:20 AM

By Gemma Guasch

March 24 (Reuters) - Shares of Puig PUIGb.MC surged around 16% on Tuesday, on track for their best trading day on record, after the Spanish beauty group and Estee Lauder EL.N said on Monday they were in talks over a potential merger.

The deal would create a $40 billion luxury beauty group and bring some of the world's biggest beauty and fragrance brands such as Tom Ford, Carolina Herrera, Rabanne and Clinique under the same roof.

Estee Lauder's New York-listed shares closed 7.7% lower on Monday.

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