Kimberly-Clark Prepares Asset Sales for Kenvue Acquisition

Kimberly-Clark is preparing asset concessions to address antitrust concerns from the European Commission regarding its $40 billion bid to acquire Kenvue. The European Commission is expected to formally notify the company of its concerns this week, ahead of a preliminary review deadline on September 29.

Announced in November 2025, the deal would integrate Kenvue's consumer health portfolio, including brands such as Listerine, Aveeno, and Neutrogena, into the offerings of Kimberly-Clark. The acquisition has already received conditional approval in South Africa and Australia.

To secure clearance in Australia, the Australian Competition and Consumer Commission required the divestment of Kenvue's Carefree and Stayfree period care brands to prevent a reduction in market competition.