Kimberly-Clark Corp. will acquire Tylenol maker Kenvue Inc. in a cash and stock deal valued at almost $49 billion the two companies announced Nov. 3.

The companies in news releases billed the combination as a merger of two iconic American companies and a complementary portfolio of consumer health and personal care products that includes 10 $1 billion-plus brands. Kimberly-Clark brands include Kleenex, Huggies, Cottonnelle, Scott and Depend. Kenvue manufactures personal care products that include Listerine, Johnson's Baby, Tylenol, Neutrogena, Benadryl and Band-Aid.

"Kenvue is uniquely positioned at the intersection of [consumer packaged goods] and healthcare, with exceptional talent and a differentiated brand offering serving attractive consumer health categories," said Mike Hsu, Kimb

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