Manufacturing giant Kimberly-Clark is set to acquire Kenvue, the maker of Tylenol, for $48.7 billion. CBS News MoneyWatch correspondent Kelly O'Grady has more details.

Kimberly-Clark, known for brands such as Huggies and Kleenex, is set to acquire Kenvue, the parent company of Tylenol, in a deal valued at nearly $50 billion. The combined company is projected to generate $32 billion in annual revenue and expects to achieve $1.9 billion in cost savings.

The acquisition, one of the largest corporate takeovers of the year, is subject to shareholder and government review and is anticipated to close by the end of 2026. Following the announcement, Kenvue's stock rose over 15%, while Kimberly-Clark's stock declined by more than 13%.

Kimberly-Clark to buy Tylenol maker Kenvue for nearly $50 billion

Well, a major acquisition of Tylenol's parent company, Huggy's maker, Kimberly Clark, is set to buy Tylenol's parent company, Kenneview, in a nearly $50 billion deal. That's a big one. CBS News Money Watch correspondent, Kelly O'Grady, joining us live from New York. Okay, so Kelly, what do we know about this acquisition, friend? Yeah, it's a big one. It's gonna mark one of the biggest corporate takeovers this year alone. So we know it's expected to close end of 2026, the back half of 2026. Of course, shareholders, as well as the government, will still have to review, especially something of this magnitude in so many different brands coming together. So Kimberly Clark shareholders, they will own 54% of the company. That would be the majority stake. Kenneview would be coming in at 46%. And combined together, Reed, the company would make $32 billion annually in revenue. And that would come from a number of the brands that you and I use on a daily basis. Of course, Kimberly Clark, you think Huggies, you think Kleenex, Kenview, Listerine, Band-Aid, Tylenol, of course, that being in the news a lot of late, but really two gigantic companies coming together. And you think about the consumer packaged goods space. This is something that we are seeing a lot of companies, they are trying to find ways in shifting consumer demand patterns, to cut costs, to make their offerings bigger, to sort of use that size in order to corner more of the market. And Reed, the company says that they will be, once they come together, finding $1.9 billion in cost savings from this deal. Wow, okay, so how's the market responding? So it depends on which stock you're looking at. So Kenview, this is a win for shareholders. Right now the stock is up over 15%. Remember Kenview, I mean, you go back to when it was spun off from Johnson & Johnson back in 2023. It's had a rough time. The stock is down 35% since then. And it's not just the issues that have arisen lately with Tylenol being questioned by the administration, whether it is safe for pregnant women. They've had sort of a long run of activist investors getting involved, saying that they don't like the trajectory of the company, even before then. Kimberly-Clark though, is down over 13% on the news. So what that tells you, Reed, is that Wall Street investors are looking at the acquisition and they're saying, you know, if you're Kimberly-Clark, you've got an uphill battle with this company. But if you're Kenview, nice bump on the stock today. All right, Kelly O'Grady tracking it all. Thank you so much. You have a good Monday, friend.

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