Prnewswire·2025-11-03 11:30Core Viewpoint - Kimberly-Clark Corporation is acquiring Kenvue Inc. in a cash and stock transaction valued at approximately $48.7 billion, aiming to create a global leader in consumer health and wellness with a portfolio of 10 iconic billion-dollar brands [1][2][8] Transaction and Financial Details - The acquisition values Kenvue at an enterprise value of approximately $48.7 billion, representing an acquisition multiple of about 14.3x Kenvue's last twelve months (LTM) adjusted EBITDA or 8.8x including expected run-rate synergies of $2.1 billion [1][8] - Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held, totaling $21.01 per share [8] - The combined company is projected to generate annual net revenues of approximately $32 billion and about $7 billion of adjusted EBITDA in 2025 [8] Strategic Benefits - The merger combines two complementary portfolios, enhancing exposure to key categories benefiting from health and wellness trends [8] - The transaction is expected to deliver total anticipated run-rate synergies of $2.1 billion, with approximately $1.9 billion in cost synergies and $500 million in incremental profit from revenue synergies [8] - Kimberly-Clark's commercial activation engine and Kenvue's science-backed innovation will be leveraged to accelerate growth and address unmet consumer needs [8] Leadership and Governance - Mike Hsu will serve as the Chairman and CEO of the combined company, with three members from Kenvue's Board joining Kimberly-Clark's Board [12]