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- Estee Lauder Companies Inc (NYSE:EL) is reportedly nearing a deal to acquire luxury clothing brand Tom Ford for about $2.8 billion.
- If the transaction goes through, it will be Estee Lauder’s largest-ever acquisition.
- The cosmetics giant’s proposal prevailed, beating its competitors, including Kering SA (OTC:PPRUY), the WSJ reported.
- Related: Estee Lauder Eyes Tom Ford Fashion Brand: WSJ
- The decrease in the deal price comes as a result of increased volatility in the market and fears of economic stability.
- The takeover could help Estee Lauder gain access to new categories and tighten its competition with other players in fashion.
- Also Read: Estee Lauder Shares Drop After Q1 Sales Miss, Warning On Multiple Disruptions
- Price Action: EL shares are trading higher by 1.79% at $224.63 in premarket on the last check Tuesday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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