Kimberly-Clark to buy maker of Tylenol
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Kimberly-Clark Corp. will acquire Tylenol maker Kenvue Inc. in a cash and stock deal valued at almost $49 billion the two companies announced Nov. 3.
Kimberly-Clark Corp. shares fell the most in a quarter century after agreeing to buy Kenvue Inc., whose biggest product, Tylenol, is in the crosshairs of the White House.
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Tylenol’s parent company will combine with the maker of Huggies in a $48.7 billion mega-deal
Clark announced Monday it will buy Tylenol’s parent company Kenvue in a nearly $50 billion deal, creating a massive consumer products conglomerate. The merger is the latest in a recent dealmaking explosion,
Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company. Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46% in what is one of the largest corporate takeovers this year.
HHS Secretary Kennedy stated there is insufficient evidence to link Tylenol to autism, conflicting with the Texas lawsuit. Texas filed its lawsuit just days before Kennedy made his remarks. Tylenol’s maker is facing a new lawsuit despite an admission from the government that there isn’t sufficient proof that the medication causes autism.
Ken Paxton claims manufacturers “lied for decades” about the drug causing autism when taken during pregnancy—which health officials have rejected.