Estée Lauder in talks to buy Tom Ford in a deal that could be valued at more than $3 billion--WSJ
Estée Lauder Companies has held talks to buy luxury fashion brand Tom Ford, in a deal that could be valued at $3 billion or more, according to a report in The Wall Street Journal. Shares of New York-based Estée Lauder, which sells skin care, makeup and fragrance products under brands that include MAC, Clinique, Origins and Estée Lauder, edged up 0.1% in midday trading Monday. The WSJ report, which cited people familiar with the matter, said there is no guarantee that an agreement will be reached, as Estée Lauder isn't the only suitor for Tom Ford. If an agreement is reached, a deal valued at $3 billion would represent the Estée Lauder's biggest acquisition. Estée Lauder's stock has dropped 26.1% year to date, while the S&P 500 has lost 13.2%.
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