Kimberly-Clark and Kenvue shareholders voted overwhelmingly to approve all of the proposals necessary for Irving-based Kimberly-Clark to complete its acquisition of New Jersey-based Kenvue—the maker of Tylenol—at their respective Jan. 29 special meetings of stockholders, the companies said.
Mike Hsu
Kimberly-Clark Chairman and CEO Mike Hsu said the milestone “advances our efforts to create a preeminent global health and wellness leader that will raise the standard of care for billions of people around the world and generate significant value for shareholders.”
Kimberly-Clark and Kenvue leaders are collaborating well on our critical integration planning efforts,” he added in a statement, “which further underscores our excitement and confidence in the opportunity we have in front of us.”
Kimberly-Clark (Nasdaq: KMB), maker of Kleenex, Huggies, and other top-selling brands, announced its plans to acquire Kenvue for about $40 billion in November. Kenvue (NYSE: KVUE) had been facing headwinds after the Trump administration claimed that acetaminophen, the active ingredient in Tylenol, showed an increased risk of autism when used by pregnant women.
“We thank Kenvue shareholders for their strong support in approving our transaction with Kimberly-Clark,” said Kirk Perry, CEO of Kenvue. “As we continue to progress toward completing the transaction later this year, we remain confident in the growth opportunities ahead for the combined company as a global health and wellness leader.”
“By bringing together our portfolios and teams,” Perry added, “we can accelerate innovation, expand access to our trusted brands and deliver increased benefits to our customers and consumers worldwide. We look forward to reaching more consumers with our iconic brands as part of Kimberly-Clark.”
Based on preliminary voting results, about 96% of the shares present at Kimberly-Clark’s Special Meeting were voted to approve the issuance of shares of Kimberly-Clark common stock in connection with the transaction, and approximately 99% of shares voted at Kenvue’s Special Meeting voted to adopt the merger agreement, representing approximately 77% of all outstanding shares.
The transaction is expected to close in the second half of 2026, subject to the receipt of regulatory approvals and satisfaction of other customary closing conditions.
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R E A D N E X T
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New Jersey-based Kenvue—which spun off from Johnson & Johnson in 2023—is the maker of Tylenol, whose active ingredient, acetaminophen, has been linked to autism by the Trump administration. Kimberly-Clark CEO Mike Hsu says the unique combination of CPG and healthcare brands "will serve billions of consumers across every stage of life."
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John Carmichael will lead the company's personal care, family care, and professional businesses across the United States and Canada.
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Stacey Valy Panayiotou will be responsible for the company's global human resources function, including talent recruiting, development and performance management, labor relations, compensation, and employee benefits.
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Irving-based Kimberly-Clark will maintain a 49% interest in the new joint venture, which is valued at $3.4 billion. The company said it is sharpening its focus on its "higher growth, higher margin businesses."
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Russ Torres will lead global operations and partner with CEO Mike Hsu to accelerate Kimberly-Clark’s transformation and Powering Care growth strategy, the company said.
