Kimberly-Clark has submitted a package of proposed remedies to European Union antitrust regulators in an effort to clear its $40 billion acquisition of consumer health company Kenvue.
According to an update on the European Commission’s registry, the EU competition watchdog has extended its deadline for a preliminary decision from September 29 to October 13 to assess the submitted concessions. While the Commission did not disclose specific details regarding the proposed remedies, the regulator is expected to market-test the commitments by gathering feedback from industry rivals and corporate customers before determining its next steps. Following this feedback phase, the Commission will decide whether to approve the deal, request further commitments, or initiate an in-depth Phase 2 investigation lasting up to four months.
Reports indicate that Kimberly-Clark, known for flagship brands such as Kleenex tissues and Huggies diapers, is prepared to divest select assets to resolve preliminary competition concerns and avoid an extended regulatory probe. Acquiring Kenvue would significantly expand Kimberly-Clark’s personal care portfolio by incorporating major global brands including Tylenol, Listerine mouthwash, and skincare lines Aveeno and Neutrogena.
The European Commission’s review follows regulatory decisions in other international jurisdictions. Earlier this month, Australian competition authorities approved the $40 billion transaction subject to Kimberly-Clark divesting Kenvue’s Carefree and Stayfree period care product lines within Australia. Additionally, the U.S. consumer goods manufacturer secured conditional regulatory approval in South Africa last month.
