Kimberly-Clark announced it will acquire Summit-based Kenvue in a cash and stock transaction valued at $48.7 billion. The deal brings together two iconic companies that will combine their portfolios of complementary products,

Clark said on Monday it plans to acquire Band-Aid maker Kenvue, even as the latter company faces thousands of lawsuits involving its painkiller Tylenol and talc-based baby powder, raising questions about the scope of the liabilities Kimberly-Clark might inherit.

Kimberly-Clark agrees to buy Tylenol maker Kenvue in a cash-and-stock deal valued at about $48.7 billion, including debt.

Kimberly-Clark is buying Tylenol maker Kenvue in an approximately $48.7 billion cash-and-stock deal, creating a massive consumer health goods company.

Kimberly-Clark’s third-quarter profit fell 51% as a result of divestitures, business exits and recent tariffs, although sales ticked up slightly.