(AP) \u2014 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.<\/p>\n
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.<\/p>\n
Kimberly-Clark shareholders will own about 54% of the combined company. Kenvue shareholders will own about 46%.<\/p>\n
The combined company is anticipated to generate 2025 annual net revenues of approximately $32 billion. Kimberly-Clark and Kenvue said that they identified about $1.9 billion in cost savings that are expected in the first three years after the transaction’s closing.<\/p>\n
\u201cWith a shared commitment to developing science and technology to provide extraordinary care, we will serve billions of consumers across every stage of life,\u201d Kimberly-Clark Chairman and CEO Mike Hsu said in a statement.<\/p>\n
Hsu will be chairman and CEO of the combined company. Three members of Kenvue’s board will join Kimberly-Clark’s board at closing. The combined company will keep Kimberly-Clark\u2019s headquarters in Irving, Texas, and continue to have a significant presence in Kenvue\u2019s locations.<\/p>\n
The deal is expected to close in the second half of next year. It still needs approval from the shareholders of both companies.<\/p>\n
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Shares of Kimberly-Clark slipped more than 15% before the market opened, while Kenvue’s stock jumped more than 20%.<\/p>\n","protected":false},"excerpt":{"rendered":"(AP) \u2014 Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion,…\n","protected":false},"author":2,"featured_media":113129,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[163,85,46,482],"class_list":{"0":"post-113128","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-medication","8":"tag-health","9":"tag-il","10":"tag-israel","11":"tag-medication"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/113128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=113128"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/113128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/113129"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=113128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=113128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=113128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}