Estee Lauder (EL) is nearing a deal to combine with Spanish beauty group Puig Brands (PUGBY) to create a more than $40B company, reported Financial Times’ Oliver Barnes, James Fontanella-Khan and Ivan Levingston. A deal could be announced as early as Monday, according to people familiar with the matter, who said it could still come apart. The exact terms of the potential tie-up were not known, FT added.
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