Back to today’s briefing

Story perspectives

Estée Lauder Shares Drop 7% Amid Merger Talks with Puig

3/23/2026

49 10 Full Breakdown

Summary

Story summary

Estée Lauder Cos. (Estée Lauder Companies) and Puig are in discussions to merge, with no agreement having been reached.
Following the news, Estée Lauder's shares fell 7% to $79.28.
The talks come amid beauty-sector dealmaking as Estée Lauder seeks to revitalize business amid sluggish U.S. demand.
The merger could involve cash and stock, creating a $40 billion beauty giant.
Puig posted a 12% rise in net profit for 2025.

1 of 1

Story summary

Estée Lauder Cos. (Estée Lauder Companies) and Puig are in discussions to merge, with no agreement having been reached.
Following the news, Estée Lauder's shares fell 7% to $79.28.
The talks come amid beauty-sector dealmaking as Estée Lauder seeks to revitalize business amid sluggish U.S. demand.
The merger could involve cash and stock, creating a $40 billion beauty giant.
Puig posted a 12% rise in net profit for 2025.