Kimberly-Clark buying Tylenol maker Kenvue in $48.7 billion deal [View all]

Source: Scripps News/AP

Posted 1 hour and 8 minutes ago and last updated 1 hour and 1 minutes ago


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.

Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.

Kimberly-Clark shareholders are expected to own about 54% of the combined company. Kenvue shareholders will own about 46%. The deal is expected to close in the second half of next year. It still needs approval from shareholders of both companies.

President Donald Trump recently thrust Tylenol into the national spotlight. In September, he announced that the Food and Drug Administration would issue a physician notice and begin the process for updating safety labels for acetaminophen, the active ingredient in Tylenol, linking its use during pregnancy to autism — despite disputed science.

Read more: https://www.scrippsnews.com/business/company-news/kimberly-clark-buying-tylenol-maker-kenvue-in-48-7-billion-deal