Kimberly-Clark has announced plans to acquire Kenvue, the company behind Tylenol and other well-known consumer health brands, in a cash-and-stock transaction valued at approximately 48.7 billion dollars.

Under the terms of the agreement, Kenvue shareholders will receive 3.50 dollars in cash plus 0.14625 shares of Kimberly-Clark for each Kenvue share held, amounting to about 21.01 dollars per share based on current valuations.

Following the merger, Kimberly-Clark shareholders are expected to own around 54 percent of the combined company, while Kenvue shareholders would hold about 46 percent.

The merged entity is projected to generate at least 32 billion dollars in annual revenue, with anticipated cost synergies of 1.9 billion dollars over the first three years after completion.

The transaction is expected to close in the second half of 2026, pending regulatory approvals and shareholder consent.