A PYMNTS Company

Kimberly-Clark Seeks EU Antitrust Approval for Kenvue Takeover

By  |  August 26, 2026
Kimberly-Clark

Kimberly-Clark Corp. has formally sought European Union antitrust clearance for its planned acquisition of Kenvue Inc., putting another major regulatory review in motion as the consumer-products companies work toward completing their multibillion-dollar combination.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The maker of Kleenex and Huggies submitted the transaction to the European Commission, which has set a provisional Sept. 29 deadline to rule on the deal, according to a report Wednesday by Seeking Alpha and information published on the EU regulator’s deal register. The proposed acquisition has been valued at about $49 billion on an enterprise-value basis.

    The filing represents a key step for Kimberly-Clark as it pursues the takeover of Kenvue, whose portfolio includes Tylenol, Band-Aid, Listerine, Neutrogena and other consumer-health brands. According to Seeking Alpha, the European antitrust review is among the regulatory hurdles that remain before the transaction can be completed.

    The European Commission previously cleared the transaction under the bloc’s Foreign Subsidies Regulation in June, according to MLex. That review, which examines the potential impact of subsidies granted by countries outside the EU, is separate from the merger-control process now underway.

    Kimberly-Clark and Kenvue shareholders approved the combination in January. The companies said at the time that investors on both sides had overwhelmingly backed the proposals required to complete the transaction.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Regulatory reviews have proceeded across several jurisdictions. India’s Competition Commission approved Kimberly-Clark’s acquisition of Kenvue in May, according to the regulator. New Zealand authorities have also examined the companies’ overlap in feminine-care products, where Kimberly-Clark sells U by Kotex and Kenvue markets Stayfree and Carefree. Kimberly-Clark proposed divesting Kenvue’s feminine-hygiene operations in New Zealand and Australia to address competition concerns, according to New Zealand’s Commerce Commission.

    Related: EU Clears Suzano-Kimberly-Clark Joint Venture Without Conditions

    China, meanwhile, has subjected the transaction to a more extensive antitrust examination, Seeking Alpha reported last week, citing traders. The State Administration for Market Regulation moved its assessment into a Phase 2 review, according to that report.

    The deal calls for Kimberly-Clark to acquire all outstanding Kenvue shares in a combination of cash and stock. Kenvue said this month that the companies continue to target completion in the fourth quarter of 2026, subject to remaining foreign regulatory approvals and other customary closing conditions. The waiting period under the US Hart-Scott-Rodino antitrust law expired in February, the company said.

    The transaction would bring together Kimberly-Clark’s household and personal-care products with Kenvue’s broad consumer-health portfolio, significantly expanding the combined company’s reach across everyday health and wellness categories.

    The European Commission’s Sept. 29 provisional deadline now provides the next significant marker in that regulatory process.

    Source: Seeking Alpha