The Estée Lauder Companies Inc. (NYSE: EL) confirmed it is in discussions regarding a potential business combination with Puig, according to a company statement.

The cosmetics manufacturer said the two companies would potentially merge their businesses, though no final decision has been made and no agreement has been reached. The company stated there can be no assurances regarding the deal or its terms unless and until an agreement is signed between the companies.

Estée Lauder noted that forward-looking statements regarding the potential transaction are subject to risks and uncertainties, including the possibility that no agreement will be reached, that required regulatory approvals may not be obtained, or that other conditions may not be satisfied.

The company said there can be no assurance that any transaction will be consummated or, if completed, as to its timing or terms. Estée Lauder stated it undertakes no obligation to update forward-looking statements except as required by law.

Estée Lauder manufactures and markets skin care, makeup, fragrance, and hair care products. The company sells products in approximately 150 countries and territories under brand names including Estée Lauder, Clinique, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, TOM FORD, and others.

The information was disclosed in a company press release statement.