ACCC Approves Kimberly-Clark’s Kenvue Deal With Carefree, Stayfree Divestments
Australia’s competition regulator approved Kimberly-Clark’s proposed US$40 billion acquisition of Kenvue, but only if Kenvue’s Carefree and Stayfree period care brands are sold to an approved buyer. The ACCC said the deal without divestment could substantially reduce competition in Australia’s market. The transaction would also bring Kenvue brands such as Neutrogena and Listerine, with further approval sought in the EU.