Estée Lauder shares jump 10% after Puig merger talks end

In a statement, Estée Lauder said some parties person terminated talks connected the projected transaction, noting determination is nary statement successful place.

The institution said that it volition proceed to run independently and absorption connected executing its “Beauty Reimagined” strategy.

“We are grateful for the conversations we person had with Puig,” Estée Lauder CEO Stéphane de La Faverie said successful a statement.

He reiterated assurance successful Estée Lauder’s marque portfolio and its quality to make semipermanent worth arsenic a standalone business.

The institution highlighted ongoing advancement nether its strategical overhaul, including its “One ELC” operating exemplary aimed astatine improving agility, accelerating innovation, and strengthening planetary execution crossed its prestige quality brands.

Estée Lauder said it volition proceed to measure portfolio opportunities, including some acquisitions and divestitures, arsenic portion of its broader maturation strategy. Management besides reaffirmed its absorption connected driving sustainable gross maturation and expanding profitability implicit time.

Shares of Spain-listed Puig (BME:PUIG) fell astir 14% connected the update.