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.
Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.
Kimberly-Clark shareholders are expected to own about 54% of the combined company. Kenvue shareholders will own about 46%.
The deal is expected to close in the second half of next year. It still needs approval from shareholders of both both companies.