Estee Lauder Nears Deal To Acquire Tom Ford: Report

• Estee Lauder Companies Inc (NYSE: EL) is reportedly nearing a deal to acquire luxury clothing brand Tom Ford for about $2.8 billion.

• If the transaction goes through, it will be Estee Lauder’s largest-ever acquisition.

• The cosmetics giant’s proposal prevailed, beating its competitors, including Kering SA (OTC: PPRUY), the WSJ reported.

• Related: Estee Lauder Eyes Tom Ford Fashion Brand: WSJ

• The decrease in the deal price comes as a result of increased volatility in the market and fears of economic stability.

• The takeover could help Estee Lauder gain access to new categories and tighten its competition with other players in fashion.

• Also Read: Estee Lauder Shares Drop After Q1 Sales Miss, Warning On Multiple Disruptions

• Price Action: EL shares are trading higher by 1.79% at $224.63 in premarket on the last check Tuesday.

• Photo Via Company

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