Kimberly-Clark is buying the parent company of Tylenol, Kenvue, in a cash and stock deal worth about $48.7 billion.
The deal will create the biggest consumer health goods company in the country, Reuters reported.
The deal between Kimberly-Clark and Kenvue is expected to close in the second half of next year.
Kenvue has been under the microscope after President Donald Trump’s administration linked the popular over-the-counter pain medication to autism. The company pushed back against the administration’s claims, CNN reported.
Under the deal, Tylenol will be owned alongside other household staple brands such as Kleenex and Huggies.
The company will produce items that “touch nearly half the global population through every stage of life,” Kimberly-Clark and Kenvue said in a news release, according to CNN.
Kenvue originally was part of Johnson & Johnson but was split from the company in 2022, CNN reported.
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