Estée Lauder says Puig merger collapsed over price concerns

Estée Lauder chief executive Stéphane de La Faverie has said the cosmetics giant’s proposed merger with Jean Paul Gaultier-owner Puig collapsed because the price was not right.
The US beauty group and Puig ended negotiations late last month over a deal that would have created a major premium beauty business better placed to compete with L’Oréal.
Speaking at a Deutsche Bank consumer conference in Paris, de La Faverie said Estée Lauder remained open to acqui