The founding families of Spanish beauty group Puig and US cosmetics giant Estée Lauder are meeting this week in New York to negotiate terms of a potential combination that would create the world’s largest premium beauty player. A source familiar with the talks confirmed the meeting, which follows last month’s announcement that both companies are exploring a deal. Per Spanish newspaper Expansión, the transaction would be structured as a cash-and-share public takeover bid by Estée Lauder for Puig, with the new entity listed on the New York Stock Exchange. Puig has postponed its Q1 sales report from April 14 to April 28.

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