Kimberly-Clark and Kenvue have cleared a major hurdle in their proposed $48.7bn (£35.42bn) merger, after shareholders of both companies voted overwhelmingly to approve the transaction.
At special meetings held on 29 January, around 96 per cent of Kimberly-Clark shareholders present backed the issuance of new shares required for the deal, while about 99 per cent of votes cast by Kenvue shareholders supported the merger agreement, representing roughly 77 per cent of all outstanding Kenvue shares.
Subject to regulatory approvals and customary closing conditions, the transaction is expected to complete in the second half of 2026.
The deal will bring together two major portfolios spanning tissue, personal care and consumer health, creating what the companies describe as a global health and wellness leader with expected annual revenues of around $32bn.
Texas-based Kimberly-Clark is best known for brands including Andrex, Kleenex, Huggies, Kotex and Pull-Ups, while Kenvue owns leading consumer health names such as Listerine, Neutrogena, Aveeno, Band-Aid and Tylenol.
Kimberly-Clark chief executive Mike Hsu said the shareholder vote marked “an exciting milestone” for the business.
“We are grateful to Kimberly-Clark shareholders who voted resoundingly in support of our combination with Kenvue,” he said. “This advances our efforts to create a preeminent global health and wellness leader that will raise the standard of care for billions of people around the world and generate significant value for shareholders.”
Kenvue chief executive Kirk Perry added: “By bringing together our portfolios and teams, we can accelerate innovation, expand access to our trusted brands and deliver increased benefits to our customers and consumers worldwide.”
The acquisition was first announced in November 2025, when Kimberly-Clark revealed plans to buy Kenvue for $48.7bn. Under the deal, Hsu is set to become chairman and CEO of the combined group.
Kenvue was spun off from Johnson & Johnson’s consumer division in 2023 and has recently attracted headlines in the US following political claims around Tylenol’s active ingredient, acetaminophen (paracetamol). Medical groups continue to cite paracetamol as a safe option for pain and fever relief during pregnancy.
Final voting results will be confirmed in regulatory filings, with both companies saying integration planning is already under way ahead of the anticipated 2026 completion.