Estée Lauder considers merging with Spain's Puig, causing its stock to drop nearly 8%.

Estée Lauder announced it is in talks about a potential merger with Spain's Puig Brands, known for luxury labels like Nina Ricci and Carolina Herrera. Both companies confirmed discussions but emphasized no final agreement or decision has been made yet. The news caused Estée Lauder's stock to fall nearly 8%, reflecting investor uncertainty. The potential merger could reshape the luxury beauty market if finalized.