Acquisition announced
Kimberly-Clark acquires Tylenol and 4 other brands (2025)
Kimberly-Clark announced the acquisition of Tylenol and 4 other brands on 3 November 2025 for $48.7 billion; the deal is announced.[1][2]
Kimberly-Clark agreed to acquire Kenvue for $3.50 in cash plus 0.14625 Kimberly-Clark shares for each Kenvue share, which would combine Huggies and Kleenex with Tylenol, Listerine and Neutrogena. Kimberly-Clark expects to issue about 280 million shares and pay about $6.7 billion in cash, leaving its existing shareholders with about 54 per cent of the combined company.
Recorded as announced. Shareholders of both companies approved the merger on 29 January 2026 and the Hart-Scott-Rodino waiting period expired on 4 February 2026; Kimberly-Clark's quarterly report for the period to 30 June 2026 still expects closing in the second half of 2026. Kenvue remains the owner of these brands until the transaction closes.
Deal facts
- Announced
- Expected close
- Pending
- Value
- $48.7 billion (enterprise value)
- Buyer
- Kimberly-Clark
- Seller
- —
- Assets
- Tylenol, Listerine, Neutrogena, Band-Aid, Aveeno
- Regulatory review
- None recorded
Who owns these brands today?
Sources (2) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Kenvue Inc. Annual Report on Form 10-K — SEC EDGAR, SEC Form 10-K; retrieved 16 September 2026.
- [2] Kimberly-Clark Corporation Form 10-Q for the quarter ended 30 June 2026 - pending acquisition of Kenvue — SEC EDGAR, SEC filing; retrieved 16 September 2026.
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