Estee Lauder plans to buy Tom Ford brand

Estee Lauder Cos is in talks to acquire luxury fashion brand Tom Ford for $2.8 billion, Financial Times (FT) reported.

The official announcement of the deal could be made today. According to the newspaper, the acquisition of Estée Lauder will be the largest in the history of the company.

In early November, The Wall Street Journal wrote that the French company Kering SA plans to buy Tom Ford. However, according to the FT, the parties were unable to reach an agreement.