Kimberly-Clark said it will buy Kenvue in a $48.7 billion cash-and-stock deal, uniting Huggies and Kleenex with Band-Aid and Tylenol into a consumer staples powerhouse boasting 10 billion-dollar brands. Kenvue shares jumped 18% premarket as Kimberly-Clark fell 14%. The merger, expected to close in the second half of 2026, targets about $1.9 billion in cost synergies and an estimated 2025 revenue base of roughly $32 billion with about $7 billion in adjusted EBITDA. CEO Mike Hsu will remain in charge, with three Kenvue directors joining the board.

Prepared by Christopher Adams and reviewed by editorial team.