Estée Lauder Confirms Talks With Puig On Potential Merger
(RTTNews) - The Estée Lauder Companies Inc. (EL) confirmed that it is engaged in discussions with Puig regarding a potential business combination that could result in the merger of their businesses. At this stage, no final decision has been made and no agreement has been reached. The company emphasized that unless and until a formal agreement is signed, there can be no assurances about whether a deal will occur or what its terms might be.
EL closed on Monday's regular trading at $79.29, down $6.63 or 7.72%. In overnight trading, the stock edged slightly higher to $79.85, reflecting a modest gain of 0.71%
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.