Shares of Puig Brands soared as much as 15% Tuesday after beauty peer Estée Lauder confirmed it is in talks about merging the two companies.

La compañía reconoce a la CNMV negociaciones con el grupo estadounidense

Estée Lauder said Monday the company is in talks to potentially merge with Spanish beauty company Puig.

Los analistas consideran que la compañía estadounidense deberá pagar una prima sustancial a los accionistas del grupo español

Shares of Puig Brands soared as much as 15% Tuesday after beauty peer Estée Lauder confirmed it is in talks about merging the two companies.

Combination of US and Spanish companies would create $40bn fashion and beauty group