Deals
Estee Lauder CEO Denies Takeover Rumors: Company ‘Not for Sale’
- Lauder family places ‘great value in remaining independent’
- MAC makeup seller forecast annual profit above estimates
Lipsticks sit on display at an Estee Lauder Companies Inc. store in the Raffles City shopping mall in Shanghai, China, on May 31, 2017.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Estee Lauder Cos. said “there is no truth” to rumors that it’s in talks for a potential sale or merger.
“The Estee Lauder Companies is not for sale,” Executive Chairman William Lauder and Chief Executive Offer Fabrizio Freda said to employees Sunday in an internal memo, which was obtained by Bloomberg News. The family and the board place “great value in remaining independent,” the New York-based company said. Estee Lauder “is strong and we have excellent momentum going forward.”