Estée Lauder Cos. is nearing a deal to buy Tom Ford for roughly $2.8 billion, building on a longstanding licensing deal and marking the cosmetics giant’s largest-ever acquisition, according to people familiar with the matter.
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Estée Lauder Cos. is nearing a deal to buy Tom Ford for roughly $2.8 billion, building on a longstanding licensing deal and marking the cosmetics giant’s largest-ever acquisition, according to people familiar with the matter.
Estée Lauder EL, -3.31% prevailed in an auction for the high-end fashion label that drew competition from big names in luxury including Kering SA KER, -0.33%. The French company was poised to win the auction earlier this month, The Wall Street Journal reported.
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