Estée Lauder ends merger talks with Gaultier owner Puig
by Mark Sweney from World news | The Guardian on (#75SZE)
Sticking points to build beauty powerhouse included which family would hold balance of power, according to FT
The US cosmetics company Estee Lauder has ended merger talks with its Spanish rival Puig to create a fashion and beauty retailer worth almost $40bn (30bn/34.5bn) after failing to agree which would hold the balance of power in the combined group.
Estee Lauder is one of the world's biggest manufacturers of skin care, makeup and fragrances with a portfolio that includes Clinique, Bobbi Brown and Tom Ford Beauty.
Continue reading...