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US Stocks Movement | Estée Lauder drops over 6%, reportedly in in-depth talks with Puig of Spain regarding a merger
Gelonghui April 2｜Estee Lauder (EL.US) fell more than 6%, hitting a low of 66.22. On the news front, it was reported that Estée Lauder and Spain beauty group Puig Brands are advancing in-depth merger talks, with the deal mainly involving inventory, and it may be formally announced within a few weeks. The report said that as part of the transaction, Puig Group Executive Chairman Marc Puig will join the board, and he is expected to play a key role during the integration of the two companies. (Gelonghui)