Q3 2025 Business Update & Supplementary Information | 1 | | --- | This presentation includes forward-looking statements, which are statements other than statements of historical facts, and statements in the future tense. These statements include, but are not limited to, statements regarding our future performance, including expected financial results for the fourth quarter of 2025, planned non-GAAP OPEX and free cash flow expectations for the full year of 2025, and our expectations for operational achieveme ...

Core Insights - Kimberly-Clark has agreed to acquire Kenvue, a consumer health spinout from Johnson & Johnson, for $48.7 billion, creating a conglomerate with an annual revenue of $32 billion [1][3] Deal Structure - Kenvue shareholders will receive $3.50 per share and 0.14625 of Kimberly-Clark shares for each Kenvue share, totaling $21.01 per share for Kenvue investors [2] - The transaction is expected to close in the second half of 2026, with Kimberly-Clark shareholders owning approximately 54% of the combined company and Kenvue shareholders owning the remaining 46% [2] Industry Context - This acquisition is one of the largest in the consumer sector in recent years and reflects a strong trend in mergers and acquisitions within the pharmaceutical industry in 2025 [3] Product Concerns - Kenvue's leading product, Tylenol, has faced scrutiny over safety concerns, particularly regarding its use during pregnancy and potential links to autism, as claimed by US President Donald Trump [4] - The FDA updated Tylenol's label in September 2025, warning that it may increase the risk of neurological conditions in children, which Kenvue has contested [5] Strategic Perspective - Kimberly-Clark emphasizes that the acquisition is strategic and not opportunistic, aiming to create a portfolio of complementary products beyond just Tylenol [6][7]

Core Viewpoint - Kimberly-Clark Corp. has agreed to acquire Kenvue Inc. for approximately $40 billion, aiming to enhance its position in the consumer health sector and gain access to Kenvue's established brands, including Tylenol [1][3]. Financial Aspects - The acquisition involves a total consideration of $21.01 per Kenvue share, representing a 46% premium over Kenvue's closing price prior to the announcement, valuing Kenvue at $48.7 billion on an enterprise basis [1]. - The combined entity is projected to generate $32 billion in revenue, positioning Kimberly-Clark as the second-largest seller of health and wellness products, surpassing Unilever [3]. - Executives anticipate unlocking an additional $1.4 billion in revenue within four years post-acquisition [3]. Strategic Implications - The merger is expected to create a leading global health and wellness player, enhancing Kimberly-Clark's ability to compete and invest significantly across various consumer segments [4]. - The deal will allow Kimberly-Clark to leverage Kenvue's distribution network, particularly in markets like India [3]. Market Reaction - Following the announcement, Kimberly-Clark's shares experienced a decline of up to 14%, marking its steepest intraday drop since 2000, while Kenvue's shares surged by 20% at the open [4][5]. Funding and Legal Considerations - Kimberly-Clark plans to finance the acquisition through cash reserves, new debt issuance, and proceeds from the $3.4 billion sale of its international tissue business, with JPMorgan Chase providing a $7.7 billion bridge loan [5]. - The acquisition exposes Kimberly-Clark to potential legal and political risks, particularly concerning Kenvue's ongoing challenges related to Tylenol's safety claims [2][5]. Recent Developments at Kenvue - Kenvue has faced financial difficulties since its spin-off from Johnson & Johnson in 2023, with shares dropping nearly 33% this year and a reported 4.4% decline in organic sales in the third quarter [2][10]. - Activist investors have increased pressure on Kenvue, leading to changes in its leadership and calls for a sale [7][8].

Daiwa’s profit beat estimates last quarter, as dealmaking in mergers and acquisitions surged while retail clients traded more https://t.co/wktubvIGfd ...

The current environment for large mergers and acquisitions is quite “constructive” for 2026 and 2027, particularly in the US, according to the CEO of Goldman https://t.co/Oai2CI5eEP ...

Core Viewpoint - Ooma has announced a definitive agreement to acquire privately held FluentStream, indicating a strategic move to enhance its service offerings and market position [2]. Group 1: Acquisition Details - The acquisition of FluentStream is part of Ooma's strategy to expand its capabilities in the communications sector [2]. - The announcement was made prior to the trading session, highlighting the company's proactive approach in informing stakeholders [2]. Group 2: Management Involvement - The call includes Ooma's CEO Eric Stang and CFO Shig Hamamatsu, emphasizing the importance of this acquisition to the company's leadership [2]. - Matt Robison, Ooma's Director of IR and Corporate Development, is leading the discussion, indicating a structured approach to investor relations [2]. Group 3: Communication and Transparency - The management discussion is being webcast live, showcasing Ooma's commitment to transparency and accessibility for investors [3]. - A replay of the call will be available for one year, allowing stakeholders to review the details of the acquisition at their convenience [3].

The S&P 500 Index ($SPX) (SPY) on Monday rose +0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) fell -0.52%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.37%.  December E-mini S&P futures (ESZ25) rose +0.09%, and December E-mini Nasdaq futures (NQZ25) rose +0.35%. US stocks on Monday saw support from AI optimism after OpenAI bought $38 billion of AI computing power from Amazon.  In M&A deals, Kimberly-Clark announced a $40 billion acquisition of Tylenol-maker Kenvue for stock and cash.  Also, Eaton ...

Core Viewpoint - Kimberly-Clark's nearly $50 billion acquisition offer for Kenvue, the maker of Tylenol, is seen as a high-risk investment, particularly in light of the potential for continued growth in the U.S. consumer market despite challenges faced by lower-income shoppers [1] Group 1: Acquisition Details - Kimberly-Clark is proposing an acquisition valued at nearly $50 billion for Kenvue, which produces Tylenol [1] - The acquisition reflects Kimberly-Clark's confidence in the growth potential of the U.S. consumer market [1] Group 2: Market Considerations - The investment is considered risky due to the economic pressures on lower-income consumers, who may be reducing their spending [1] - The success of the acquisition hinges on the assumption that the U.S. consumer market will continue to expand [1]

Kenvue (KVUE) shares are up roughly 15% at writing after Irving, Texas-headquartered Kimberly-Clark (KMB) said it will buy the consumer health company in a deal that values it at $48.7 billion. Kenvue shareholders will receive $3.50 per share in cash and the remainder in KMB stock. The deal will unlock synergies worth $2.1 billion in total, according to the companies’ joint press release on Monday. More News from Barchart Despite today’s surge, Kenvue stock is down well over 30% versus its year-to-date ...

This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Dive Brief: Amid an uptick in deal activity across construction, New York City-based construction cost consulting firm Cumming Group announced Oct. 30 it has acquired LeftField, a project management consulting firm. The terms of the deal were not disclosed. The merger will double Cumming Group’s size in the region and strengthen its ability to serve both ...