Estee Lauder Eyes Tom Ford Fashion Brand: WSJ

Estee Lauder Companies Inc EL is in talks to acquire the fashion brand Tom Ford in a purported $3 billion deal, the Wall Street Journal reported.
If realized, the deal will become Estee Lauder's largest ever acquisition.
The report further noted Tom Ford has many other offers as well and thus no guarantees the two sides will reach an agreement.
Tom Ford founded his eponymous brand after serving as a creative director at Gucci.
Estee's executive had mentioned in its third-quarter earnings call that Tom Ford is among the few brands with double-digit sales growth and has high demand in China.
Some of the previous acquisitions of the cosmetic company include Canadian beauty company Deciem Inc in 2021 and the Korean skin-care company Have & Be Co. in 2019.
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Price Action: EL shares are trading higher by 0.05% at $273.23 on the last check Monday.
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