Estée lauder and puig in talks for potential $40 billion merger

Beauty giants Estée Lauder Companies (ELC) and Puig are in early-stage discussions over a potential merger that could create a $40 billion behemoth in the industry.

Puig and elc see synergies in prestige beauty market

The news sent shockwaves through the market, with ELC's shares plummeting 7.7% and Puig's rising 11% after the announcement. The two companies generated $20 billion in combined sales last year, with ELC's revenue dipping 8% to $14.3 billion while Puig's revenues surged 7.8% to €5 billion.

ELC, led by CEO Stéphane de La Faverie, has been undergoing a transformation dubbed