Kimberly-Clark to Buy Tylenol Maker Kenvue for $48.7 Billion

Kimberly-Clark has agreed to buy Kenvue for more than $40 billion, combining the maker of Huggies diapers with the owner of Tylenol and other consumer healthcare products.

Doctors maintain that Tylenol remains the safest option for expectant mothers treating fever and pain. (Photo: Kenvue)

Kenvue shares soared about 20% in premarket trading Monday, while Kimberly-Clark’s share price fell around 16% ahead of the bell, Conor Hart reported for The Wall Street Journal.

In the cash-and-stock deal, Kimberly-Clark will pay $21.01 per share, based on its closing price in recent trading.

Including debt, the company said the deal has a total value of $48.7 billion.

The merger will create a global health and wellness company with annual revenue of approximately $32 billion and billion-dollar brands, including Kimberly-Clark household staples such as Kleenex tissues and Cottonelle toilet paper, and Kenvue products such as Tylenol and Listerine mouthwash.

The combination will expand Kimberly-Clark’s exposure to what it called key categories “positioned to benefit from growth trends,” as consumers increasingly prioritize health and wellness.

The deal comes as Kenvue faces a public relations crisis over claims made by the Trump administration linking acetaminophen — the active ingredient in Tylenol — to autism when used during pregnancy.

Doctors maintain that Tylenol remains the safest option for expectant mothers treating fever and pain.

Last week, Texas sued Kenvue, alleging deceptive marketing for advertising Tylenol as safe for pregnant women. Kenvue called the lawsuit’s claims baseless.

“We stand firmly with the global medical community that acknowledges the safety of acetaminophen and believe we will continue to be successful in litigation, as these claims lack legal merit and scientific support,” the company said.