Estee Lauder confirms merger talks with Spain's Puig

(Sharecast News) - Estee Lauder confirmed on Monday that it is in talks with Spanish beauty company Puig about a potential merger. In a brief statement responding to press speculation, the US cosmetics firm said "no final decision has been made, and no agreement has been reached".

"Unless and until an agreement is signed between the companies, there can be no assurances regarding the deal or its terms."

Puig owns brands such as Charlotte Tilbury, Nina Ricci and Paco Rabanne, while Estee Lauder owns Clinique, La Mer, Aramis and Aveda, among others.

At 2040 GMT, Estee Lauder shares were down 7.7% at $79.29.