Estée Lauder Companies Inc. (NYSE:EL) and Puig have ended discussions about a potential business combination, closing the door on talks first confirmed in March.
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Discussions Terminated
The two companies announced in March that they were in discussions regarding a possible transaction, but cautioned at the time that no agreement had been signed and there could be no assurance a deal would be reached or what the terms might be.
Estée Lauder said Thursday that the parties have terminated those discussions. The company said it remains focused on executing its Beauty Reimagined strategy, which it said is underway and delivering positive results.
