KVUE · 10-Q · 2026Q3 · Full report

Acquisition / Partnership / Divestiture

Kenvue Inc. · 2026-10-30 · Importance 76 · Surprise 60 · In source text

Kenvue and Kimberly-Clark entered into a merger agreement under which K-C will acquire all outstanding Kenvue shares for 0.14625 K-C shares and $3.50 in cash per Kenvue share. Upon completion, Kenvue shareholders are expected to own approximately 46% and K-C shareholders approximately 54% of the combined company on a fully diluted basis. Both companies’ shareholders approved the transaction on January 29, 2026, and the Hart-Scott-Rodino waiting period expired on February 4, 2026. To secure required regulatory approvals, Kenvue agreed to sell its feminine care business in certain countries, including its Brazil business and the Carefree, Sempre Livre, and o.b. brands to Essity, subject to customary closing conditions and completion of the merger.

Key facts

• On November 2, 2025, Kenvue’s Board unanimously approved a merger agreement under which K-C will acquire all outstanding Kenvue shares for 0.14625 shares of K-C Common Stock and $3.50 cash per share. source
• Kenvue entered into definitive agreements to sell its feminine care business in certain countries, including its Brazil business and Carefree, Sempre Livre, and o.b. brands to Essity Aktiebolag; sales are subject to conditions including, for certain transactions, local regulatory approval and completion of the pending transaction. source
• Kenvue and K-C shareholders approved the pending transaction-related merger agreement and stock issuance at special meetings on January 29, 2026; the HSR waiting period expired February 4, 2026. source
• After completion of the pending transaction, Kenvue shareholders are expected to own approximately 46% and K-C shareholders approximately 54% of the combined company on a fully diluted basis. source
• Kenvue completed its IPO in May 2023 and its transition to a fully independent public company in August 2023. source

Impact estimates