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NEW YORK–Procter & Gamble has already made a big splash in the mass market cosmetics and fragrance market. Now it wants cachet….In a move which could spell a major shift in agency billings, sources said last week that P&G is exploring the possibility of acquiring Estee Lauder, the tony $2 billion-plus cosmetics giant whose roughly $70 million account is handled by AC&R/N.Y.One source close to the big client said that P&G’s talks with Lauder could be approaching the critical stage.
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