EU approves Kimberly-Clark's $40 billion Kenvue acquisition

The European ‌Commission has approved ​Kimberly-Clark's $40 billion acquisition of Tylenol maker Kenvue after the maker of Kleenex ‌tissues and Huggies diapers offered concessions to address EU antitrust concerns.

Kimberly-Clark offered to sell all its tampon and other feminine hygiene ‌brands in the European Economic Area, the EU competition enforcer ‌said in a statement. "The brands covered by the divestment are Kotex (including the Lidie sub-brand), Camelia and Record," the Commission said.

The Commission had ⁠concerns ​that the ⁠transaction would reduce competition in the tampon market, particularly in the Czech Republic, ⁠Estonia and Slovakia, because it would result in the removal of ​an important supplier. Turkey-based Dilek Gida Uretim, a distributor ⁠of leading consumer good brands, agreed to buy the assets Kimberly-Clark has committed ⁠to ​sell, the Commission said, adding that it had approved that transaction, too.

"Dilek is a suitable purchaser given ⁠that it has, among others, the financial resources to maintain and ⁠develop the divested ⁠business, as well as the expertise to operate it effectively," the Commission said.