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It’s been a tough few weeks for the consumer health company Kenvue, after President Trump publicly spread unproven claims about Tylenol, one of its core subsidiary brands. Today, though, it seems like there might finally be some good news for Kenvue. This morning, Kimberly-Clark, the personal care corporation behind brands like Kleenex, Huggies, and Cottonelle, announced that it’s struck an agreement to acquire Kenvue (which, alongside Tylenol, also owns brands like Band-Aid, Zyrtec, and Listerine). The deal, which is expected to close in the second half of 2026, will proceed through a cash and stock transaction that’s set to value Kenvue at around $48.7 billion. Kenvue stock was up as much as 19% in premarket trading. As of this writing, Kenvue stock is up more than 17%, while Kimberly-Clark stock is down about 12%. The proposed acquisition news comes nearly a month after President Trump spread a widely debunked claim that suggested a link between Tylenol use during pregnancy and autism, causing a temporary dip in Kenvue stock and posing a more serious reputational risk to the company. Now, it seems like investors are feeling hopeful about the company’s latest move. Subscribe to the Daily newsletter.Fast Company's trending stories delivered to you every day Privacy Policy | Fast Company Newsletters What to know about Kenvue ahead of Kimberly-Clark acquisition Kenvue shares have been on a bit of a roller coaster over the past several weeks. On the morning of September 22, shares of the company dropped around 7.5% as shareholders caught wind of President Trump’s plans to publicly claim that Tylenol consumption could be linked to autism. Later that afternoon, Trump did just that at a White House conference where he instructed pregnant women, around a dozen times, “Don’t take Tylenol.” The claim that Tylenol use is connected to autism has been widely debunked by experts and is not backed by medical science. In response to Trump’s comments, Kenvue disputed any link between Tylenol and autism, and warned that if pregnant mothers don’t use the drug when in need, they could face a dangerous choice between suffering fevers or using riskier alternatives. The company’s stock jumped back up around 6% on September 23. The recent tumult surrounding Kenvue follows several years of stock price decline for the company, which first broke off from Johnson & Johnson back in 2023. Since then, Kenvue’s share prices have slumped by almost 35% from their initial public offering price. Year-over-year, the company’s stock is down almost 27%. In a press release published today, Mike Hsu, CEO of Kimberly-Clark, explained that acquiring Kenvue was part of a larger plan to “pivot our portfolio to higher-growth, higher-margin businesses.” Kirk Perry, Kenvue’s CEO, added, “Our combination with Kimberly-Clark unites two highly complementary portfolios filled with iconic, beloved brands and everyday essentials that people trust and count on throughout their lives.” If the acquisition proceeds as planned, it will create a personal care giant that encompasses 10 different billion-dollar brands under one corporate umbrella.
