Overview
- Kenvue holders are set to receive $3.50 in cash plus 0.14625 Kimberly-Clark shares per Kenvue share, valuing Kenvue at $21.01 a share based on Friday’s close.
- Current Kimberly-Clark investors would own about 54% of the combined company, with Kenvue shareholders holding the remainder.
- Markets swung on the news, with Kenvue shares jumping roughly 15%–20% and Kimberly-Clark falling about 10%–16%.
- The combined portfolio spans Huggies, Kleenex, Tylenol, Listerine, Neutrogena and Band-Aid, with management guiding to roughly $32 billion in annual revenue and about $7 billion in adjusted EBITDA.
- Mike Hsu will serve as chairman and CEO of the combined company, three Kenvue directors will join the board at closing, and the company will be headquartered in Irving, Texas, as Kenvue navigates litigation and political scrutiny tied to Tylenol, including a recent Texas lawsuit.