Estee Lauder (EL) will "continue to look at opportunities" after its failed merger transaction with Puig, according to a FactSet transcript of Estee Lauder Chief Executive Stephane de La Faverie's remarks during a Tuesday conference in Paris, France.

The CEO said the transaction fell through "because it was not at the right price," according to the transcript.

Five sources familiar with the matter told Reuters that merger talks between the companies failed due to leaks, demands, and disagreements between the controlling families.