Kenvue (KVUE) shares are up roughly 15% at writing after Irving, Texas-headquartered Kimberly-Clark (KMB) said it will buy the consumer health company in a deal that values it at $48.7 billion.
Kenvue shareholders will receive $3.50 per share in cash and the remainder in KMB stock. The deal will unlock synergies worth $2.1 billion in total, according to the companies’ joint press release on Monday.
