Memo Puts Estee Lauder (EL) Rumors to Bed

For the past several weeks, rumors have run rampant on Wall Street that Estée Lauder (NYSE: EL) was being sold. Rumored suitors included Procter & Gamble (NYSE: PG), Unilever NV (NYSE: UN), L'Oreal, JAB and Kraft Heinz (NASDAQ: KHC). While sources confirmed that Procter & Gamble isn't interested, given its ongoing proxy fight with Nelson Peltz, it is less clear if someone else did in fact approach the company. What is clear, however, is that the company is not selling.

In a memo to employees Monday, Executive Chairman, William Lauder, and President and CEO, Fabrizio Freda, made it very clear that the company and family that controls it has no interest in selling - making a deal impossible. "The Estée Lauder Companies is not for sale," the memo bluntly read.

Below is a copy of that memo, first reported by WWD:

Dear ELC Colleagues,

We are aware of recent press that speculates that the Estée Lauder Companies may be in discussions regarding a potential sale or merger. There is no truth to these rumors. The Estée Lauder Companies is not for sale.

The Lauder Family and our Board place great value in remaining independent. Our Company is strong and we have excellent momentum going forward.

William P. Lauder

Executive Chairman

Fabrizio Freda

President and CEO

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