The Estee Lauder Cos. said late Monday it has agreed to buy makeup brand Too Faced for about $1.45 billion. The deal is expected to close in December, and is expected “to strengthen the company’s leadership position in the fast-growing prestige makeup category globally, increase the Company’s consumer reach in the specialty-multi channel, and win with millennials — all in strong alignment with the Company’s strategy,” Estee Lauder said. Shares of Estee Lauder were flat in late trading after ending the regular trading day down 1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News