Kenvue Inc. (KVUE) · Nov 2, 2026 · Acquisition

Kenvue acquisition closes, ending its standalone public-company run

Acquisition closed — 0.14625 K-C shares + $3.50 cash per Kenvue share

Kenvue’s acquisition by Kimberly-Clark has closed, converting shareholders into K-C holders and ending Kenvue’s NYSE-listed life.

Kenvue entered this filing as the world’s largest pure-play consumer-health company, with brands including Tylenol, Listerine, Neutrogena and Band-Aid, but its operating future had already been transferred into Kimberly-Clark’s planned combination. The deal was announced on November 2, 2025, and both companies had guided investors to a second-half 2026 closing, so today’s filing confirms the expected endpoint rather than changing the underlying story.

The merger is complete, not merely pending. Kenvue shareholders receive 0.14625 shares of Kimberly-Clark plus $3.50 in cash for each Kenvue share, and Kenvue became a wholly owned K-C subsidiary. 〔0〕

Deal termsClosing termsComparison
K-C stock consideration (Merger Agreement)0.14625 shares
Cash consideration (Merger Agreement)$3.50/share
Kenvue revolving facility (Credit Agreement)$4.0 billion$0 borrowings
Kenvue senior notes assumed (Fourth Supplemental Indenture)$7.0 billion7 series

The key investor consequence is Kenvue’s disappearance as a listed equity. Trading was requested to be suspended before the November 2, 2026 open, with an NYSE Form 25 filing to follow and a later Form 15 intended to terminate registration and reporting obligations. 〔1〕

The financing and legal cleanup are mostly mechanical. Kenvue had no borrowings under its $4.0 billion revolver at closing, that facility was terminated, and Kenvue LLC assumed the existing $7.0 billion note obligations. 〔2〕 〔3〕

Control and leadership now belong to Kimberly-Clark. Kenvue’s pre-closing directors resigned, K-C’s merger-subsidiary directors and officers took over the surviving entity, and Kenvue’s corporate form was converted into Kenvue LLC. The filing also discloses a potential tax gross-up for General Counsel Matthew Orlando capped at $8 million, but that is a minor transaction expense rather than a change to the business outlook.

Bottom line: This filing completes the transaction investors already knew was coming. It matters operationally because Kenvue is now inside Kimberly-Clark, but it is not a new strategic surprise; the standalone Kenvue story is over, and the next chapter is integration under K-C.

What to watch next

NYSE Form 25, then Form 15 deregistration

Original filing on SEC EDGAR

More Kenvue Inc. news

Kenvue acquisition closes, ending its standalone public-company run | KVUE Stock News
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