Estee Lauder
This article was originally published in The Rose Sheet
Executive Summary
Cosmetics company will buy 1,872,000 shares of Class A common stock from Clinique Chairman and Board of Directors member Ronald Lauder for the stock's May 24 closing price of $39.25, firm announces. Additionally, Estee Lauder President & CEO William Lauder will purchase 128,000 shares of Class B common stock from Ronald Lauder at $39.25 per share, leaving William Lauder with direct ownership of 2,392,038 shares of Class B common stock and 1,168,240 shares of Class A common stock, in addition to a number of shares of Class A and Class B common stock indirectly. Transactions are slated to close May 27, at which point Ronald Lauder will directly hold 16,043,019 shares of Class B common stock and 57,553 shares of Class A common stock. He also is the beneficiary of trusts that indirectly own shares of Class A and Class B common stock underlying outstanding stock options. Lauder family will now own 88.2% of the outstanding voting power of the common stock...