Estée Lauder ends merger talks with Gaultier owner Puig
by Mark Sweney from US news | The Guardian on (#75SZE)
Key sticking point to building beauty powerhouse was level compensation demanded by Charlotte Tilbury
The US cosmetics company Estee Lauder has ended talks with its Spanish rival Puig about a merger that would have created a fashion and beauty group worth almost $40bn (30bn).
Estee Lauder, one of the world's biggest manufacturers of skincare, makeup and fragrances, owns brands including Clinique, Bobbi Brown and Tom Ford Beauty.
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