Estee Lauder shares jumped about 12% in after‑hours trading on May 22, 2026 after ending merger talks with Puig.
The companies had announced on March 23, 2026 they were discussing a potential combination but gave no deal assurances.
CEO Stéphane de La Faverie reaffirmed confidence in standalone growth, “Beauty Reimagined” strategy and the new ‘One ELC’ operating model.
The firm will keep evaluating its portfolio for acquisitions or divestitures while targeting double‑digit adjusted operating margins.