Kimberly-Clark to buy Tylenol maker for over $40 billion

KLEENEX MAKER KIMBERLY-Clark said on Monday it will buy Tylenol parent Kenvue for more than $40 billion to create one of the biggest consumer health goods companies in the US.

- REUTERS

Shares of Kenvue were up 18% in premarket trading, while Kimberly-Clark’s shares were down 12.5%. Kenvue’s shareholders will get $21.01 per share in cash and stock, which implies a premium of 46.2% to the stock’s last closing price.

This is set to be the largest buyout in the US consumer goods sector to date.