Kimberly-Clark has offered concessions to address European Union antitrust concerns over its proposed acquisition of consumer healthcare company Kenvue, as the $40 billion deal faces further regulatory scrutiny.
The European Commission, which oversees competition policy in the EU, has extended its deadline for a decision on the transaction to October 13 from September 29, according to an update on the regulator’s merger review register.
The remedies are intended to address concerns about competition arising from the combination of Kimberly-Clark’s consumer brands with Kenvue’s extensive healthcare portfolio. Kenvue owns major brands including Tylenol, Listerine, Aveeno and Neutrogena, while Kimberly-Clark is known for products such as Kleenex and Huggies.
People familiar with the matter previously said Kimberly-Clark was preparing to sell certain assets as part of the concessions. The company’s proposed acquisition has already received conditional approval in Australia and South Africa, with Australia requiring the divestment of Kenvue’s Carefree and Stayfree period-care brands.
The European Commission is expected to seek feedback from competitors and customers before deciding whether to accept the remedies, request additional concessions or launch a full-scale investigation.
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