Estée Lauder in Talks to Buy Puig to Create Beauty Giant

Estée Lauder said it’s in talks to buy Puig Brands in a deal that would create a cosmetics giant with about $20 billion in annual sales. The companies declined to offer details on the terms. Puig, based in Spain, has a market value of about €10 billion ($11.6 billion), while Estée Lauder closed on M...

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