Group 1 - Kenvue has entered into an agreement with Kimberly-Clark to be acquired for up to $48.7 billion, marking one of the largest transactions in the consumer goods sector in recent years [1][2] - The combined annual revenue of Kenvue and Kimberly-Clark is projected to reach $32 billion, positioning the new entity as the second-largest health and personal care product seller globally, behind Procter & Gamble [1][2] - The merger will create a new platform with complementary product offerings, including 10 brands that each generate over $1 billion in annual sales [2][3] Group 2 - Post-merger, Kimberly-Clark and Kenvue shareholders are expected to hold approximately 54% and 46% of the combined company, respectively, with the transaction anticipated to close in the second half of 2026, pending shareholder approval [2] - The merger is expected to yield significant benefits, with projected net revenue of approximately $32 billion and adjusted EBITDA of about $7 billion by 2025, along with an estimated $1.9 billion in cost synergies within three years post-transaction [3]

Core Insights - Kenvue has announced an agreement with Kimberly-Clark for a cash and stock acquisition valued at $48.7 billion, marking one of the largest transactions in the consumer goods sector in recent years [3] - The merger is expected to create a new platform with a combined annual revenue of $32 billion, positioning it as the second-largest health and personal care product seller globally, just behind Procter & Gamble [3][4] - Post-merger, Kimberly-Clark and Kenvue shareholders are projected to hold approximately 54% and 46% of the combined company, respectively, with the transaction anticipated to close in the second half of 2026, pending shareholder approval [3] Company Overview - Kimberly-Clark, founded in 1872, operates in about 70 countries and holds leading positions in personal care products, with brands such as Huggies, Kleenex, Cottonelle, and Scott [3] - Kenvue is known for its popular brands including Listerine, Band-Aid, and Tylenol, which has recently faced controversy [4] Financial Projections - The combined company is projected to achieve an annual net income of approximately $32 billion (around 228 billion RMB) by 2025, with adjusted EBITDA expected to be around $7 billion (approximately 49.9 billion RMB) [4] - The merger is anticipated to generate about $1.9 billion (approximately 13.5 billion RMB) in cost synergies within three years post-transaction [4]