Lauder Heir’s Family Seeks $1 Billion in Estee Lauder Share Sale

The family of Estee Lauder Companies Inc. heir Leonard Lauder is seeking to raise about $1 billion in a sale of shares in the beauty products maker, according to people familiar with the matter.

Trusts affiliated with the descendants of Lauder, who died on June 14, are offering 11.3 million shares for $90 to $92 each, said the people, who asked not to be identified because the information is private. The pricing comes at a discount of as much as 3.1% to Tuesday’s closing price of $92.88.

Read More: Leonard Lauder, Billionaire Heir to Cosmetics Empire, Dies at 92

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