Shares of The Estée Lauder Companies Inc. (EL) are moving down about 7 percent on Tuesday morning, possibly due to the impact of its announcement yesterday, confirming that it is engaged in discussions with Puig regarding a potential business combination that could result in the merger of their businesses.
The company's stock is currently trading at $73.44, down 7.37 percent or $5.88, over the previous close of $79.28 on the New York Stock Exchange. It has traded between $48.37 and $121.64 in the past one year.
It further added that no final decision has been made and no agreement has been reached.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.