, Columnist
That $40 Billion Tylenol Deal Is Both Cheap and Risky
A not-so-bitter pill to swallow?
Photographer: Brandon Bell/Getty Images North AmericaLitigation is supposed to be a deterrent to dealmaking. For Kimberly-Clark Corp., it’s a spur. The diaper maker on Monday agreed to buy Tylenol producer Kenvue Inc. for $40 billion. This mammoth transaction is a gamble — but one with decent odds.
Kenvue is the consumer health care giant behind a plethora of well-known brands, including Neutrogena, Listerine and Aveeno. Spun out of Johnson & Johnson in 2023, it’s had a rocky ride and effectively put itself up for sale in July.