Estée Lauder Shares Gain as Rumored Deal Fails to Materialize
Estée Lauder shares moved higher after hours on Thursday, up about 10% following news that the company and Spain’s Puig halted merger talks. The talks would have set up a $40 billion premium beauty group and disrupted the luxury cosmetics business. Estée Lauder ended regular trading at $78.91 before Reuters broke the story.