Banking Recap

KIMBERLY CLARK CORP to Acquire Kenvue Inc.

This transaction is a cash and stock acquisition in which Kimberly-Clark Corporation, trading under the ticker KMB, is acquiring Kenvue Inc., trading under the ticker KVUE. The deal is classified within the consumer and retail sector, and the disclosed value of the transaction is not stated in the source document.

Dec 12, 2025·SEC EDGAR (S-4)·pending regulatory·cash and stock acquisition

The transaction is sourced from an SEC EDGAR Form S-4 filing published on December 12, 2025. Based on the facts provided, the deal's status is pending regulatory approval.

On the financial advisory side, PJT Partners LP served as financial advisor to Kimberly-Clark, the acquirer, and is identified as the lead advisor in this transaction. The source material is drawn from a consent letter referencing PJT Partners's opinion, cited under the heading "Summary, Opinions of Financial Advisors, Opinion of PJT Partners, K-C's Financial Advisor," confirming that PJT Partners rendered a fairness opinion to Kimberly-Clark in connection with the merger. No financial advisor to Kenvue, the target, is identified in the facts provided.

No legal advisor is identified for either party in the facts provided for this transaction.

Beyond confirming that the transaction is structured as a cash and stock acquisition, no further detail on the specific mix between cash and stock, the exchange ratio, or other terms of consideration is included in the facts available.

Several elements of this deal remain undisclosed. The deal value is explicitly noted as not stated in the source document, and no legal advisor to either Kenvue or Kimberly-Clark is identified. The heading referenced in the source material notes "Opinions of Financial Advisors" in the plural, suggesting more than one advisor to Kimberly-Clark may be involved, but only PJT Partners is named in the facts available, and no financial advisor to Kenvue, the exchange ratio, or an expected closing date is provided.