Estee Lauder and Puig to meet in New York to discuss merger, Expansion reports

The families behind Puig and Estee Lauder (EL) are set to meet in New York this week to negotiate the terms of a potential combination of their beauty businesses with the goal of announcing an agreement in the coming weeks, Pepe Bravo, Jose Orihuel and Roberto Casado of Spanish newspaper Expansion reported, citing market sources. Key points under discussion reportedly include the governance structure of the combined company, expected to be initially listed in the U.S., along with the shareholder agreement and the exchange ratio. The transaction would likely be structured as a takeover bid by Puig for Estee Lauder, with consideration consisting of a mix of cash and shares.