Kimberly-Clark readies asset sales to secure EU approval for $40B Kenvue acquisition

SentiSense · Published Sep 14, 2026, 7:55 AM ET · Updated Sep 28, 2026, 2:45 AM ET

Kimberly-Clark is preparing asset divestitures and other concessions to satisfy European regulators reviewing its $40 billion acquisition of Kenvue. The move aims to address antitrust concerns and obtain the needed EU nod. The news sent Kimberly-Clark and Kenvue shares higher as investors welcomed a path to clearance ahead of the EU's September 29 preliminary review deadline.

Kimberly-Clark disclosed that it is planning asset sales as part of a remediation package to win European Commission clearance for its proposed $40 billion purchase of Kenvue, the consumer-health spin-off of Johnson & Johnson. The strategy, reported by Reuters, reflects the company's effort to alleviate competition concerns raised during the EU review process ahead of the regulator's preliminary review, which ends on September 29.

The market reaction was positive rather than cautious: KMB shares rose more than 2.7% in early trading on the news, while KVUE shares gained 2.3%, as investors welcomed signs that a concession path could help the companies avoid a longer, full four-month EU investigation.

If the remedies satisfy Brussels, the approval would clear a major hurdle for one of the largest consumer-goods consolidations of the year, potentially reshaping market dynamics in the hygiene and health product categories. The deal has already secured conditional clearance in Australia, where Kimberly-Clark agreed to divest its Carefree and Stayfree brands, and in South Africa, a pattern that suggests a template for the kind of concessions EU regulators may expect.

Stakeholders will be watching for details on which assets are earmarked for divestiture, the timeline for their sale, and any further conditions the Commission may impose before the September 29 preliminary-review deadline. The outcome could set precedents for future large-scale deals in the sector.