Like Loch Ness Monster or Bigfoot sightings, and even those creepy clowns that seem to pop up every Halloween, Estée Lauder
brass must tamp down rumors of its acquistion on a regular basis. After there was talk that P&G, L'Oréal
were all ready to bid as much as $40 billion for the US leader in prestige cosmetics (not bad for a company with sales of less than $12 billion), Chairman William P. Lauder and CEO Fabrizio Freda issued the following internal memo to their employees:
“The Estee Lauder Companies is not for sale. The family and the board place great value in remaining independent." Estée Lauder, they added, “is strong and we have excellent momentum going forward.”
The Lauder family controls about 87% of Estee Lauder shares, whose value have risen more than 30% this year.