Kimberly-Clark seeks EU approval for $40bn Kenvue acquisition

Kimberly-Clark (KMB) has filed for European Union regulatory approval of its proposed $40 billion acquisition of Kenvue (KVUE), according to documents published on the European Commission's website.

The tissue and hygiene products group announced the deal in November last year, with closing targeted for the second half of 2026. Kimberly-Clark has projected annual cost savings of $2.1bn from the combination.

The acquisition would add Kenvue's broad portfolio of consumer health brands — including Tylenol pain relief, Listerine mouthwash, and skincare lines Aveeno and Neutrogena — to Kimberly-Clark's existing business, with the combined company expected to generate roughly $32bn in annual revenues.

Kenvue was spun out of Johnson & Johnson (JNJ) and listed on the New York Stock Exchange in May 2023.