Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company.
Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.
RELATED STORY | Trump links Tylenol in pregnancy to autism despite contested science
Kimberly-Clark shareholders are expected to own about 54% of the combined company. Kenvue shareholders will own about 46%.
The deal is expected to close in the second half of next year. It still needs approval from shareholders of both companies.
President Donald Trump recently thrust Tylenol into the national spotlight. In September, he announced that the Food and Drug Administration would issue a physician notice and begin the process for updating safety labels for acetaminophen, the active ingredient in Tylenol, linking its use during pregnancy to autism — despite disputed science.
The administration said research suggests a possible association between acetaminophen and adverse neurodevelopmental outcomes.
RELATED STORY | RFK Jr. disputes CDC conclusion on why autism rates have jumped in US
"Don't take Tylenol if you're pregnant and don't give Tylenol to your child when he's born," President Trump said.
Despite Trump's insistence that pregnant women should not take acetaminophen, the official guidance from his administration is for clinicians to "exercise their best judgment" when recommending the drug for fevers and pain during pregnancy.
The FDA also notes that "acetaminophen is the only over-the-counter drug approved for use to treat fevers during pregnancy, and high fevers in pregnant women can pose a risk to their children."
Kenvue said the company stands with public health officials and believes there's no credible evidence linking acetaminophen to autism.
