Estee Lauder nears merger with Jean Paul Gaultier-owner Puig, FT reports

Group 1 - Estee Lauder is nearing a merger with Puig, which would create a beauty giant valued at $40 billion [1] - Shares of Estee Lauder have decreased by approximately 8% [2] - The announcement of the deal could occur as early as Monday, but the exact terms are still unknown and the deal may not finalize [2]