KMB · 10-Q · 2026Q3 · Full report

Kenvue Acquisition

KIMBERLY CLARK CORP · 2026-11-05 · Importance 71 · Surprise 60 · In source text

Kimberly-Clark completed its Kenvue acquisition on November 2, 2026, paying approximately $6.7 billion in cash and delivering approximately 281.1 million Kimberly-Clark shares to Kenvue shareholders. The cash consideration was funded with cash on hand, new debt proceeds, and commercial-paper borrowings; the $4.9 billion senior-note offering completed October 29 was used toward the consideration and related costs. Acquisition-related expenses were $106 million for the third quarter and $263 million for the first nine months of 2026. The acquisition therefore added substantial financing needs and acquisition costs to the reported periods.

Key facts

• Kenvue noteholders tendered approximately $6.4 billion, or 91.1%, of Kenvue's $7.0 billion outstanding senior notes; Kimberly-Clark issued like-amount new senior notes on November 4, 2026. source
• Kimberly-Clark completed the Kenvue Acquisition on November 2, 2026, for approximately $6.7 billion cash consideration and delivered approximately 281.1 million Kimberly-Clark shares to Kenvue shareholders. source
• Kenvue-related acquisition costs were $106 million for the three months and $263 million for the nine months ended September 30, 2026, included in Marketing, research and general expenses. source
• Kimberly-Clark entered into the Kenvue Merger Agreement on November 2, 2025, for stock and cash consideration. source
• Under the Kenvue Merger Agreement, each eligible Kenvue common share was to convert into 0.14625 Kimberly-Clark common shares plus $3.50 cash. source
• Kimberly-Clark funded the Kenvue cash consideration through cash on hand, proceeds from new debt issuance, and commercial paper borrowings. source

Impact estimates