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Acquisition · Estee Lauder · Funding · Puig
Estee Lauder is actively pursuing a €5 billion funding package through JPMorgan to finance a potential acquisition of Madrid-listed high-end cosmetics and fashion conglomerate Puig, following earlier reports of merger discussions.
Puig's shares surged 6.3% to €18.81, reaching a 52-week high of €18.89, on Tuesday after Spanish publication Expansion reported Estee Lauder's financing efforts. The potential deal values Puig at €3.3 billion at current market prices.
This development follows March reports of initial talks between the two beauty giants. Puig, which owns brands like Charlotte Tilbury, Byredo, Dries Van Noten, and Christian Louboutin, recently saw a leadership change with Marc Puig transitioning to executive chair and Jose Manuel Albesa becoming CEO.
Estee Lauder's stock experienced a slight dip of 0.3% to $77.61 in New York, valuing the company at over $26 billion.