Estee Lauder and Puig have terminated merger discussions without reaching a deal, according to Bloomberg.
The companies had been in talks to explore a potential combination, but no agreement was finalized.
The news comes amid ongoing strategic reviews in the beauty and fragrance industries, where consolidation has been a recurring theme.
The lack of a deal may lead to mixed reactions in the market, with investors now turning attention to other potential catalysts in the sector.
Estee Lauder's stock has shown recent volatility, and the absence of a merger agreement could influence short-term positioning.
Analysts will be watching for further strategic moves from both companies, particularly in light of broader industry dynamics.