Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a huge consumer health goods company.

Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46% in what is one of the largest corporate takeovers this year.

The combined company will have a huge stable of household brands under one roof, putting Kenvue's Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark's Cottonelle toilet paper, Huggies and Kleenex tissues. It will also generate about $32 billion in annual revenue.

Kimberly-Clark operates a factory in Maumelle that produces baby wipes and has offices in Northwest Arkansas. A company facility in Conway closed in 2021 and is now a factory for Westrock Coffee.

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