Estee Lauder Nears Deal To Acquire Tom Ford: Report

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  • Estee Lauder Companies Inc 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 PPRUY, the WSJ reported.
  • RelatedEstee 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 ReadEstee 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
Posted In: M&ANewsMediaGeneralBriefs
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