Puig growth slows amid Middle East war as Estée weighs bid
Puig reported its slowest growth since the pandemic as Middle East tensions hurt demand. Estée Lauder is weighing a bid for the firm to better rival L'Oréal.
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ESTEE LAUDER COMPANIES-CL A is weighing an 18 to 19 euro per share bid for PUIG BRANDS SA-B as the Spanish firm reports its slowest quarterly growth since the pandemic. The potential $40B merger follows a 1% drop in Estée Lauder shares since talks surfaced on March 23. A deal could lift Estée Lauder margins to 15.6% but faces headwinds from Middle East conflict and high debt levels.
