£30bn merger founders on payout for Charlotte Tilbury
Charlotte Tilbury owner Puig and Estee Lauder have called off a £30billion beauty merger after a disagreement over the entrepreneur’s payout.
A deal would have brought together well-known brands including MAC and Clinique.
But talks confirmed in March have broken down over compensation for Tilbury (pictured), who set up her eponymous firm in 2013. Puig bought a majority of her brand for £890m in 2020 but she retained a minority stake.
Missing out: A payout for Charlotte Tilbury (pictured) has scuppered the £30billion deal
A merger would have triggered a clause allowing her to cash in her stake.
But reports suggested Estee Lauder was not prepared to accept costs of millions of euros as part of the deal.
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