Family representatives from Estée Lauder and Puig are due to meet in New York this week to discuss a potential merger between the two companies, Spanish newspaper Expansion reported, citing unnamed market sources.
According to the report, the agenda for the talks is expected to focus on several core deal elements: the governance structure of a combined entity, the specifics of a shareholders' agreement and the exchange ratio that would determine ownership stakes post-transaction.
The report further indicates that, under the proposed terms, the merged company would be initially listed in the United States.
Estée Lauder is identified as a publicly traded American multinational operating in the prestige beauty sector. Puig is described as a Spanish family-owned business with activities in fashion and fragrance.
The details released in the Expansion report come via unidentified market sources. Beyond the areas noted for discussion - governance, shareholders' terms and exchange ratio - the account provides no additional specifics on timing, valuation, or any agreement having been reached.
Observers should note that the report frames these talks as exploratory discussions among the families that control each company rather than definitive deal terms or a signed agreement.
Contextual note: The information available in the report is limited to the topics the families are expected to address and the likely initial listing jurisdiction for the combined company. No further details about the structure, timetable or any financial terms were provided in the report cited.