Key facts
- Kimberly-Clark is preparing concessions to address EU antitrust concerns over its bid for Kenvue.
- The European Commission is expected to inform Kimberly-Clark of its concerns this week.
- The deal is valued at $40 billion.
- Kenvue is the maker of brands such as Tylenol, Listerine, Aveeno, and Neutrogena.
Kimberly-Clark is preparing concessions to address European Union antitrust concerns regarding its proposed $40 billion acquisition of Kenvue, according to people familiar with the matter. The EU competition enforcer is expected to inform Kimberly-Clark of its concerns this week, which could help the company gain approval for the deal after a preliminary review. The maker of Kleenex tissues and Huggies diapers announced the deal in November last year. The acquisition would add Kenvue's portfolio of brands, including Listerine mouthwash and skincare brands Aveeno and Neutrogena, to Kimberly-Clark's existing product range. MLex reported that Kimberly-Clark can expect to be told by EU merger regulators by Sept. 29 whether its acquisition requires an in-depth review, a move that would delay the deal's closure. The European Commission's clearance of Mars' takeover of Kellanova in December could serve as a model for addressing competition concerns.