Kimberly-Clark to Acquire Kenvue in $48.7 Billion Deal to Create Health and Wellness Leader

Kimberly-Clark Corporation has announced a definitive agreement to acquire Kenvue Inc. in a cash-and-stock transaction valued at approximately $48.7 billion. This strategic move aims to create a global health and wellness leader by combining their complementary product portfolios, which include ten billion-dollar brands. The transaction is expected to close in the second half of 2026, subject to shareholder and regulatory approvals.

Under the terms of the agreement, Kenvue shareholders will receive $3.50 per share in cash and 0.14625 shares of Kimberly-Clark for each Kenvue share held, totaling $21.01 per share based on Kimberly-Clark's closing price on October 31, 2025. Upon completion, Kimberly-Clark shareholders will own approximately 54% of the combined company, while Kenvue shareholders will hold about 46%.

The combined entity is projected to generate approximately $32 billion in annual revenue and achieve $2.1 billion in annual run-rate synergies. Mike Hsu, Kimberly-Clark's Chairman and CEO, will lead the merged company, which will maintain its headquarters in Irving, Texas.

This acquisition brings together iconic brands such as Huggies, Kleenex, Tylenol, Band-Aid, Neutrogena, and Listerine, aiming to serve nearly half the global population across various life stages.

Following the announcement, Kenvue's stock surged approximately 20% in premarket trading, while Kimberly-Clark's shares experienced a decline of nearly 15%.

This development underscores Kimberly-Clark's commitment to expanding its consumer health portfolio and enhancing its position in the global market.