"Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company. Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46% in what is one of the largest corporate takeovers this year. The deal must still be approved by the shareholders of both companies."
"Kenvue has spent a relatively brief period as an independent company, having been spun off by Johnson & Johnson two years ago. J&J first announced in late 2021 that it was splitting its slow-growth consumer health division from the pharmaceutical and medical device divisions. Kenvue has since been targeted by activist investors unhappy about the trajectory of the company and Wall Street appeared to anticipate some heavy lifting ahead for Kimberly-Clark."
Kimberly-Clark is acquiring Kenvue in a cash-and-stock transaction valued at about $48.7 billion, with Kimberly-Clark shareholders owning roughly 54% and Kenvue shareholders about 46% of the combined firm. The merged company will consolidate household brands such as Listerine, Band-Aid, Cottonelle, Huggies and Kleenex and is expected to generate about $32 billion in annual revenue. Kenvue was spun off from Johnson & Johnson two years ago and faced activist investor pressure and volatile public-market performance, including a near 50% decline since spring 2023. Leadership from an established consumer-products company could help unlock brand value.
Read at Fortune
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