Markets & Economy
Puig Nears Deal with Estée Lauder; Shares Spike
Puig and Estée Lauder have entered merger discussions to create about a $40 billion luxury-beauty group, sparking a roughly 16% jump in Puig stock and marking one of the firm's largest intraday moves. The tie-up reorders competitive pressure across global fragrance and luxury cosmetics, forcing rivals and investors to reassess scale, channel control, and margin risk.