Summary
Kimberly-Clark is buying the company that makes Tylenol, known as Kenvue, in a deal worth $48.7 billion. This merger will combine well-known brands like Listerine and Band-Aid with Kimberly-Clark's products like Huggies and Kleenex, creating a large consumer health goods company. The deal is expected to close in the second half of next year and still requires approval from both companies' shareholders.
Key Facts
- Kimberly-Clark is purchasing Kenvue for $48.7 billion through cash and stock.
- Kimberly-Clark shareholders will own about 54% of the new company, and Kenvue shareholders will own about 46%.
- The new company will have famous brands like Cottonelle, Huggies, Kleenex, Band-Aid, and Listerine.
- Together, the new company will make around $32 billion in annual revenue.
- The merger is one of the largest corporate takeovers of the year 2023.
- Approval from both companies' shareholders is still needed for the deal to go through.
- The merger is expected to generate $1.9 billion in cost savings within three years.
- The combined company will maintain its headquarters in Irving, Texas.
