KMB · 10-Q · 2026Q2 · Full report
Acquisition / Partnership / Divestiture
KIMBERLY CLARK CORP · 2026-08-04 · Importance 71 · Surprise 60 · In source text
Kimberly-Clark agreed to acquire Kenvue for approximately 280 million Kimberly-Clark shares plus $6.7 billion of cash consideration. The cash component is expected to be funded with cash on hand, new debt issuance and proceeds from the IFP Transaction, and Kenvue acquisition costs were $109 million in the second quarter and $157 million year to date. Kimberly-Clark completed the IFP Transaction on July 1, 2026, selling Suzano a 51% joint-venture interest for approximately $1.7 billion while retaining 49%. The former IFP Business is reported as discontinued operations, and continuing operations now comprise North America and International Personal Care.
Key facts
- On June 5, 2025, the Company announced formation of a joint venture with Suzano to comprise substantially all operations of the former IFP segment, with Buyer acquiring a 51% interest for a purchase price of approximately $1.7 billion and Kimberly-Clark to retain a 49% equity interest. source
- The Company expects approximately 280 million shares of common stock to be issued and approximately $6.7 billion to be paid for the Merger Consideration in the Kenvue Acquisition. source
- On November 2, 2025, the Company entered into a Merger Agreement to acquire Kenvue, Inc. for Stock Consideration of 0.14625 shares of Kimberly-Clark common stock and Cash Consideration of $3.50 per Kenvue share. source
- The Company incurred $109 and $157 of acquisition-related costs in connection with the Kenvue Acquisition during the three and six months ended June 30, 2026, respectively. source
- Income (loss) from discontinued operations, net of income taxes for the three and six months ended June 30, 2026 was $(60) and $41, respectively, compared to $68 and $171 in the prior year, driven by pre-tax separation costs of $72 and $104 for the three and six months ended June 30, 2026, respectively. source
- The IFP Transaction was completed on July 1, 2026 after consultation requirements and customary closing conditions were satisfied. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | probable | -18.1% | The Company expects approximately 280 million shares of common stock to be issued and approximately $6.7 billion to be paid for the Merger… |
| cash | positive | probable | +4.6% | On June 5, 2025, the Company announced formation of a joint venture with Suzano to comprise substantially all operations of the former IFP… |
| cash | negative | committed | — | On November 2, 2025, the Company entered into a Merger Agreement to acquire Kenvue, Inc. for Stock Consideration of 0.14625 shares of… |
| assets | positive | committed | — | On November 2, 2025, the Company entered into a Merger Agreement to acquire Kenvue, Inc. for Stock Consideration of 0.14625 shares of… |