Overview
- Kenvue holders will receive $3.50 in cash plus 0.14625 Kimberly-Clark shares per share, valuing Kenvue at about $21.01 based on Friday’s close, with Kimberly-Clark investors set to own roughly 54% of the combined company.
- The companies target closing in the second half of 2026 subject to shareholder and regulatory approvals, with Kimberly-Clark CEO Mike Hsu poised to lead the combined group from Irving, Texas.
- Management projects about $32 billion in annual revenue and has identified roughly $1.9 billion in cost savings within three years, with some estimates citing $2.1 billion in total run-rate synergies.
- Shares jumped for Kenvue by roughly 15%–20% and fell for Kimberly-Clark by about 10%–16% following the announcement.
- Legal and reputational risks persist after unproven government-linked claims about prenatal acetaminophen and autism and a new Texas lawsuit alleging deceptive marketing, alongside Kenvue’s reported 4.4% quarterly sales decline.