Estée Lauder, Puig Merger Talks Ended Over Price

By EC Assets · Published 2 June 2026

Estée Lauder Companies Inc. and Puig have concluded discussions regarding a potential business combination. The proposed merger did not proceed due to issues related to valuation. Stéphane de La Faverie, President and Chief Executive Officer of Estée Lauder, confirmed that the price tag was the reason the deal failed. Estée Lauder had engaged in conversations with Puig about a possible union. De La Faverie confirmed that Estée Lauder remains open to pursuing financially sensible acquisitions despite the failed deal. Puig owner of brands like Jean Paul Gaultier, was approached by Estée Lauder. The CEO of Puig stated that the company was not for sale to shareholders. When Estée Lauder approached Puig, the Spanish beauty company identified three central points for evaluating the operation. These points included governance. Estée Lauder has faced challenges with declining organic sales and a drop in earnings per share. However, its recent merger talks concluded positively. This article is intended for informational purposes only. It does not constitute investment advice.