Kimberly-Clark (NYSE: KMB) just announced a $48.7 billion cash-and-stock deal to acquire Kenvue (NYSE: KVUE) — the company behind Tylenol, Band-Aid, and Neutrogena.br br Before the market opened, Kenvue stock surged 20.95 to $17.38, while Kimberly-Clark fell 14.br The deal values Kenvue at roughly $21 per share (about $40.3 billion in equity) and is expected to close in the second half of 2026.br br The combined company would generate $32 billion in annual revenue and projects $1.9 billion in cost synergies within three years of completion.br Kenvue, spun off from Johnson & Johnson in 2023, had seen its shares slide 35 from IPO levels before this merger was announced.