Kimberly‑Clark to Acquire Kenvue for $48.7B

Kimberly‑Clark agreed to acquire Kenvue in a cash-and-stock deal valuing the transaction at $48.7 billion including debt (about $40.3 billion of equity), offering Kenvue shareholders $21.01 per share — comprised of $3.50 in cash plus roughly 0.15 Kimberly‑Clark shares — and expects the deal to close in the second half of 2026. The combined company will unite major consumer-health and household brands including Tylenol, Band‑Aid, Neutrogena, Huggies and Kleenex, and is projected to generate about $32 billion in annual revenue with $1.9–$2.1 billion in annual cost synergies within three years. Kenvue shares jumped roughly 20% in premarket trading after the announcement while Kimberly‑Clark shares fell in the mid‑teens. Kimberly‑Clark CEO Mike Hsu is slated to be chairman and CEO of the merged firm, and several Kenvue directors will join the Kimberly‑Clark board. The deal follows recent sales softness at Kenvue, and the company has denied headlines alleging a link between acetaminophen and autism.