Business & Markets
Consumer goods
Kimberly-Clark closed its $48.7 billion Kenvue purchase and is targeting $2.1 billion in run-rate synergies, $1.9 billion of it from cost cuts within three years.
Kimberly-Clark completed its acquisition of Kenvue, the Tylenol and Band-Aid maker, with Kenvue shares ceasing to trade on November 2. Each Kenvue share converted into $3.50 in cash plus 0.14625 Kimberly-Clark shares, for an enterprise value of about $48.7 billion. The companies expect about $2.1 billion of run-rate synergies, including $1.9 billion in cost savings within three years. The European Commission required divestitures of three brands.