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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Estée Lauder ends merger talks with Gaultier owner Puig

Estée Lauder Marc Puig United States
An Estée Lauder cosmetics display showing shelves of makeup products including mascaras, eyeshadows, and foundation
Estée Lauder’s shares climbed by 11.5% in post-market trading on Thursday as investors welcomed the news that the talks had been terminated. Photograph: Shannon Stapleton/Reuters

The US cosmetics company Estée 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).

Estée 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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