China's State Administration for Market Regulation has moved its evaluation of Kimberly-Clark's planned $49 billion acquisition of Kenvue into a phase 2 review, according to traders citing a Capitol Forum report. The deal was expected to have a quick review, but a complaint by an antitrust expert at Beijing's Tsinghua University and a safety controversy involving Kimberly-Clark and other diaper makers may have triggered the in-depth review. The transaction, announced in January, is expected to close in the second half of 2026 and would create a projected $32 billion revenue health and wellness leader. Shares of Kimberly-Clark advanced 1.3% on Wednesday, while Kenvue rose 1.1%.
Kimberly-Clark CorporationPhase 2 review by Chinese regulator could delay or alter the deal, but shares rose slightly.
Kenvue Inc.Phase 2 review by Chinese regulator could delay or alter the deal, but shares rose slightly.
