Kimberly-Clark offers EU remedies for $40 billion Kenvue deal
- Kimberly-Clark (NYSE:KMB) offered concessions to address European Union competition concerns over its planned $40 billion acquisition of Kenvue (NYSE:KVUE).
- The European Commission extended its review deadline to October 13 from September 29 while assessing the proposed remedies.
- Kimberly-Clark stated that asset divestitures could help address regulatory concerns as the merger review continues.
Kimberly-Clark (NYSE:KMB) offered concessions to address European Union antitrust concerns regarding its proposed $40 billion acquisition of Kenvue (NYSE:KVUE), according to a European Commission filing.
The European Commission extended its deadline for a decision to October 13 from September 29 as regulators review the proposed remedies and assess competition concerns.
The Commission did not disclose details of the concessions under its confidentiality policy and is expected to seek feedback from competitors and customers before deciding on the next steps.
Kimberly-Clark, which produces brands including Kleenex tissues and Huggies diapers, has proposed acquiring Kenvue, whose portfolio includes Tylenol, Listerine, Aveeno, and Neutrogena.
The transaction has already received conditional approval from regulators in Australia and South Africa, with Australia requiring divestment of Kenvue’s Carefree and Stayfree period care brands.
