Estée Lauder weighs Puig merger amid turnaround push advances
Estée Lauder Companies said it is in early talks to merge with Spanish beauty group Puig, though no deal or terms have been disclosed and no final decision has been made; Estée Lauder shares fell about 8% while Puig rose roughly 3%, and Puig owns brands like Charlotte Tilbury, Jean Paul Gaultier and Rabanne. The potential merger comes as Estée Lauder pursues its Beauty Reimagined turnaround amid tariff headwinds expected to shave roughly $100 million from full-year profitability, helping explain its year-to-date stock decline.