The European Commission has granted conditional antitrust approval for Kimberly-Clark’s $40 billion acquisition of Kenvue, the maker of Tylenol and other consumer health products. The clearance removes a significant regulatory hurdle for the merger.
To secure approval, Kimberly-Clark committed to divesting its tampon and feminine hygiene brands in the European Economic Area (EEA). The brands include Kotex, Camelia and Record.
The Commission said the combined company could have reduced competition in the tampon market in Czechia, Estonia and Slovakia. The EU approved Turkey-based Dilek Gida Uretim as the buyer for the assets, addressing the competition concerns and allowing the acquisition to proceed.