April 1 (Reuters) - U.S. cosmetics giant Estee Lauder and Spanish firm Puig are advancing talks to combine in a deal that would consist mostly of stock, Bloomberg News reported on Wednesday, citing
Estee Lauder, Puig advance talks for a stock‑based deal, Bloomberg News reports
Estee Lauder and Puig Merger Discussions
Progress of Merger Talks
April 1 (Reuters) - U.S. cosmetics giant Estee Lauder and Spanish firm Puig are advancing talks to combine in a deal that would consist mostly of stock, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Potential Impact of the Merger
Creation of a Luxury Beauty Group
The two family-owned companies last month said they were exploring a merger that would create a $40 billion luxury beauty group bringing brands such as Tom Ford, Carolina Herrera, Rabanne and Clinique under one roof.
Timeline for Announcement
The deal could be formally announced within weeks, the report added.
Leadership and Integration
Role of Marc Puig
As part of the deal, Puig Executive Chairman Marc Puig would sit on the board and is expected to be crucial to the integration of the two companies, according to the report.
Official Responses
Statements from Estee Lauder and Puig
Estee Lauder and Puig did not immediately respond to Reuters' requests for comment.
Reporting Credits
(Reporting by Savyata Mishra in Bengaluru; Editing by Leroy Leo)
