Estée Lauder shares jump 10% after Puig merger talks end

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.