Kimberly-Clark announced its purchasing Kenvue , the maker of Tylenol, in a cash and stock deal estimated to be worth $48.7 billion in a press release shared on Monday (November 3).

Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing, which equals $21.01 per share based on Kimberly Clark's closing price on Friday (October 31), according to CBS News . Kimberly-Clark shareholders are expected to own about 54% of the merged company, while Kenvue shareholders will own about 46%.

Kimberly-Clark specializes in mostly paper-based consumer goods and personal care products including Kleenex and Kotex, as well as Cottonelle, Scott and Andrex toilet paper. Kenvue, which was formerly the Consumer Healthcare division

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