Kimberly-Clark Seeks EU Approval for $40 Billion Kenvue Deal

Kimberly-Clark has requested approval from European Union regulators for its proposed $40 billion acquisition of Kenvue, the manufacturer of Tylenol. First announced in November 2025, the takeover is expected to close in the second half of 2026.

Kimberly-Clark projects the deal will generate $2.1 billion in annual cost savings and create a combined company with annual revenues of approximately $32 billion. The acquisition would incorporate Kenvue brands including Listerine, Aveeno, and Neutrogena.

This regulatory filing follows a period of financial volatility for Kimberly-Clark, which recently reduced its annual sales and profit forecasts. The company attributed the decline to second-quarter sales losses in China, which were driven by false claims regarding the quality of its diaper brands.