Kimberly-Clark seeks EU approval for $40 billion Kenvue deal
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The company logo for Kenvue Inc. Johnson & Johnson's consumer-health business, is displayed on during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. REUTERS/Brendan McDermid
Aug 28 (Reuters) - Kimberly-Clark has asked EU regulators permission for its proposed $40 billion takeover of Tylenol maker Kenvue, documents on the EU Commission's website showed.
• Kimberly-Clark announced the takeover in November last year.
• The deal was expected to close in the second half of 2026, it said at the time.
• Kimberly-Clark forecast $2.1 billion in annual cost savings from the deal.
• The addition of Kenvue's vast portfolio of brands from Listerine mouth wash to skincare names like Aveeno and Neutrogena is expected to bring in annual revenues of roughly $32 billion for the combined company, it said.
(Reporting by Bart Meijer;Editing by Sudip Kar-Gupta)
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