Kimberly-Clark Plans $48.7B Acquisition of Kenvue Creating Consumer Health Giant

Kimberly-Clark Corporation has announced its agreement to acquire Kenvue, the maker of Tylenol, in a cash and stock deal valued at approximately $48.7 billion. This acquisition will merge Kimberly-Clark's personal care brands with Kenvue's consumer health portfolio, creating a company with projected combined annual revenues of around $32 billion. Kenvue shareholders are set to receive $3.50 in cash plus 0.14625 Kimberly-Clark shares for each Kenvue share, representing a 46.2% premium over recent stock prices, and upon closing, Kimberly-Clark shareholders will own about 54% of the combined entity. The transaction, expected to close in the second half of 2026 pending regulatory and shareholder approval, follows recent challenges for Kenvue, including public controversies over Tylenol and leadership changes. The news has caused Kenvue's stock to surge by approximately 20% while Kimberly-Clark's shares declined by about 12-14%. This merger is anticipated to generate significant synergies and be accretive to Kimberly-Clark's earnings within two years of completion.