Investors are making their thoughts known on the Lauder-Puig deal that is no more.
Puig’s stock dove, while the Estée Lauder Cos.’ shares rose after news broke late Thursday that their merger talks were over.
The Spanish fragrance and beauty company’s shares ended Friday down 13.4 percent at 15.27 euros. Lauder’s stock, meanwhile, closed up 11.9 percent to $88.32.
As previously reported, the two companies late Thursday said they had ended discussions regarding a potential business combination, which would have made the merged group the largest prestige beauty player in the world. Puig and Lauder had first publicly confirmed they were in talks on March 23.
When the deal first came to light, it was Lauder’s stock that tumbled by around 10 percent, while Puig’s soared around 15 percent, insinuating that investors viewed the potential deal as more beneficial to Puig.
