07:13 AM EST, 11/03/2025 (MT Newswires) -- Kimberly-Clark ( KMB ) said Monday it will acquire Kenvue ( KVUE ) in a cash and stock deal valuing Kenvue ( KVUE ) at about $48.7 billion on an enterprise basis.

Kenvue ( KVUE ) holders will receive $3.50 in cash plus 0.14625 Kimberly-Clark ( KMB ) share for each share they own, or $21.01 based on Kimberly-Clark's ( KMB ) Oct. 31 close, the companies said.

After closing, Kimberly-Clark ( KMB ) shareholders are expected to own about 54% of the combined company and Kenvue ( KVUE ) holders about 46% on a diluted basis, the statement added.

Synergies are projected at about $2.1 billion, with about $2.5 billion in expected costs to make the synergies possible, the companies added.

On current projections, the combined business would generate about $32 billion of annual net revenue, with closing expected in H2 of 2026, subject to shareholder and regulatory approvals, Kimberly-Clark ( KMB ) said.

Mike Hsu will serve as chairman and CEO and three Kenvue ( KVUE ) directors will join the board, the company said.

Shares of Kimberly-Clark ( KMB ) were down by more than 16%, while the shares of Kenvue ( KVUE ) were up by over 19% in recent Monday premarket activity.