Kenvue, which has been under increased scrutiny recently after the Trump administration alleged a link between Tylenol and autism, is being acquired by Kimberly-Clark in a multibillion-dollar deal.
According to a Monday press release, Kimberly-Clark will acquire all of the outstanding shares of Kenvue common stock in a cash and stock transaction that values Kenvue at approximately $48.7 billion.
Just last week, Texas Attorney General Ken Paxton sued Kenvue and its former parent company, Johnson & Johnson.
“We are excited to bring together two iconic companies to create a global health and wellness leader,” said Mike Hsu, Kimberly-Clark chairman and chief executive officer.
“We look forward to working with the Kenvue team to bring these companies together and are confident that we will drive significant value for our combined shareholders,” Hsu continued.
“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,” said Kirk Perry, chief executive officer of Kenvue.
RELATED: Headaches continue for Tylenol brand as Texas AG files lawsuit over alleged autism link
Photo by Dave Kotinsky/Getty Images for Kenvue
Kenvue, however, has increasingly been viewed as a liability as allegations of a link between prenatal use of Tylenol and autism have been leveled by members of the Trump administration and other leaders.
Just last week, Texas Attorney General Ken Paxton sued Kenvue and its former parent company, Johnson & Johnson.
Paxton said, “Johnson & Johnson attempted to escape responsibility by illegally offloading their liability onto a different company,” apparently referring to Kenvue.
Kimberly-Clark’s current portfolio — which includes well-known brands such as Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, and Goodnites — will combine with Kenvue, which produces brands including Aveeno, Band-Aid, Johnson’s, Listerine, Neutrogena, and, of course, Tylenol.
The Associated Press reported that Kimberly-Clark shares dropped 15% before the market open and Kenvue’s stock rose more than 20%.
Blaze News reached out to Kimberly-Clark for comment but did not receive a response.
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