shares of Puig Brands The stock rose as much as 15% on Tuesday after beauty specialist Estée Lauder confirmed it was in talks about merging the two companies.
Estée Lauder said on Monday that no final decisions had been made on any potential deal, as first reported by the Financial Times.
Puig stock was last seen up 14.6% while Estée Lauder was up less than 1% in premarket trading.
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