Copyright The New York Times
Kimberly-Clark, the consumer products giant that owns Kleenex and Huggies, plans to acquire Kenvue, the embattled maker of Tylenol, Johnson’s Baby products and more, for about $40 billion, the companies announced on Monday. Shares of Kenvue have plummeted this year as U.S. health officials have claimed, without new evidence, that acetaminophen — the active ingredient in the common pain reliever Tylenol — was linked to autism. In July, before the Trump administration aired its concerns about Tylenol, Kenvue announced the departure of its chief executive alongside a review of the company’s strategy. Kenvue was spun off by Johnson & Johnson in 2023 to run the group’s consumer products division. Johnson & Johnson kept the more profitable, faster-growing businesses in pharmaceuticals and medical devices. Under the terms of the cash-and-stock deal with Kenvue, Kimberly-Clark shareholders would own roughly 54 percent of the new company. The combined group would generate about $32 billion in annual revenue and $7 billion in operating profit, the companies said. The deal is expected to close in the second half of 2026, subject to approvals from shareholders and regulators. The companies said in a release announcing the deal that Kimberly-Clark had “carefully considered all risks and opportunities, working with some of the world’s foremost scientific, regulatory, legal and other experts.” This is a breaking news story. Please check back for updates.
