The deal has an enterprise value of about $48.7 billion, the companies said. (Photo: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Kimberly-Clark Corp. agreed to buy struggling Tylenol maker Kenvue Inc. in a deal worth roughly $40 billion.

Kenvue holders will get $3.50 per share in cash and 0.14625 Kimberly-Clark shares per Kenvue share, according to a statement Monday, for a total consideration of $21.01 a share based on Kimberly-Clark’s Friday closing price. That’s a 46% premium to Kenvue’s close on Friday.

The deal has an enterprise value of about $48.7 billion, the companies said. Current Kimberly-Clark shareholders would own about 54% of the combined companies, with Kenvue shareholders getting the rest.

Shares of Kimberly-Clark, which owns the Kleenex

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