The merged company would have put together brands such as Tom Ford, Clinique and MAC with Carolina Herrera and Charlotte Tilbury, popular with TikTok influencers and affluent millennials.

U.S. cosmetics maker Estée Lauder and Spanish perfume group Puig had ​been finalising the details of a deal when talks fell apart late on Thursday, preventing a merger that would ‌have created a $40 billion luxury beauty giant.

EstÃe Lauder (EL) shares jumped about 10% on Friday after the company said it and Spanish beauty group Puig ended discussions over a possible merger.The move l

Estee Lauder Companies Inc (NYSE:EL, XETRA:ELAA) shares rose about 10% on Wednesday after the company confirmed it has ended discussions with Puig regarding a potential business combination, removing uncertainty around a deal that had been under consideration since March. In a statement, Estée Lauder said both parties have terminated talks on the proposed transaction, noting there is no agreement in place.

Estée Lauder Companies, Inc. (NYSE:EL) shares are trading higher Friday after the company announced it terminated discussions regarding a potential business combination with Puig.

Stock futures are pointing to a slightly higher open ahead of the long holiday weekend; the Dow closed at its first record high in more than three months yesterday, while the S&P 500 is on pace to post gains for the 8th consecutive week; shares of Estée Lauder are rallying after the cosmetics maker dropped acquisition talks with a fellow makeup brand, Puig; Workday stock is rallying after the enterprise software maker reported results that topped Wall Street estimates; and Take-Two Interactive shares are climbing after the video game maker beat estimates and said "Grand Theft Auto VI" is still on track for its Nov. 19 release date. Here's what you need to know today.

Shares of Estée Lauder (EL) climbed sharply on Friday after the cosmetics company and Spanish beauty group Puig Brands announced they had terminated merger discussions that could have created one of the world's largest luxury beauty companies. Estée Lauder shares rose roughly 11% in premarket trading, putting the stock on track for its strongest single-day performance in nearly a year.

Estée Lauder's shares soared in premarket after a potential merger with Spanish beauty group Puig fell through. Estée said on Thursday that it had decided to terminate a potential combination of the two family-owned beauty firms.

Estée Lauder stock jumped early Friday and was one of the biggest risers in the S&P 500.

Madrid-listed shares fell more than 14% in European morning trading, while Estee Lauder's stock was up over 10% in premarket trading.