Estee Lauder Shares Jump After Merger Talks with Puig End; Focus Returns to Standalone Turnaround
Shares of Estée Lauder Companies Inc leapt more than 10% in morning trade after the company and Spain’s Puig mutually ended merger negotiations that had aimed to create a roughly $40 billion luxury-beauty group. Management emphasized continued execution of its 'Beauty Reimagined' turnaround, while analysts said the collapse of talks removes integra…