Kimberly-Clark to acquire Kenvue in cash-and-stock deal valued at $48.7 billion
Kimberly-Clark agreed to acquire Kenvue in a deal that values Kenvue at an enterprise value of approximately $48.7 billion. Kenvue shareholders would receive $3.50 in cash and 0.14625 Kimberly-Clark shares per Kenvue share, or $21.01 per share based on the October 31, 2025 closing price. Upon closing, Kimberly-Clark shareholders are expected to own about 54% of the combined company, and the transaction is expected to close in the second half of 2026 subject to shareholder, regulatory and other approvals.
Key points
- Kenvue shareholders receive $3.50 in cash plus 0.14625 Kimberly-Clark shares per share, a total of $21.01 per share based on the October 31, 2025 closing price
- Current Kimberly-Clark shareholders are expected to own about 54% of the combined company; Kenvue shareholders about 46%
- Companies expect $2.1 billion in run-rate synergies, net of reinvestment, and the cash component will be funded partly by new debt and the sale of a 51% interest in the IFP business
- Expected closing in the second half of 2026; the outside date is November 2, 2026, with a possible extension to May 3, 2027
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.