By Elias Schisgall
Estee Lauder shares fell after The Wall Street Journal reported the company is in talks to acquire the Spanish beauty group Puig Brands, citing people familiar with the matter.
Shares were down 8% to $79.05 following the Journal's article, after spending much of Monday's session in the green. The stock has risen 17% in the past year.
The talks are continuing and may not lead to an agreement, the Journal reported. The companies have discussed a deal involving a combination of cash and stock.
If reached, a deal would combine two of the world's largest beauty companies. Estee Lauder has a market value upwards of $30 billion, while Puig's market value is around $10 billion.
Estee Lauder has been working to execute a turnaround under Chief Executive Stephane de La Faverie, who stepped into the job last year.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
March 23, 2026 15:58 ET (19:58 GMT)
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