New York, Feb 23, 2026, 07:31 EST — Premarket
- KVUE was up about 0.5% in premarket trading after Friday’s close at $18.63.
- The Kimberly-Clark offer implies about $19.44 per Kenvue share at current KMB prices, leaving KVUE below the deal value.
- A recent filing said the U.S. antitrust waiting period has expired; investors are watching foreign approvals and 2026 restructuring costs.
Kenvue Inc shares rose 9 cents, or about 0.5%, to $18.72 in premarket trading on Monday, after finishing Friday at $18.63.
The consumer health company is set to be acquired by Kimberly-Clark in a cash-and-stock deal announced in November. Kenvue shareholders are slated to receive $3.50 in cash plus 0.14625 Kimberly-Clark shares per Kenvue share, implying a value of about $19.44 at Kimberly-Clark’s premarket price of $109.02. (Kenvue Investors)
That leaves Kenvue trading at roughly a 4% discount to the offer value — the spread that merger traders track as a rough gauge of timing and deal risk. Kimberly-Clark shares were up about 0.3% early Monday.
A filing showed the waiting period under the Hart-Scott-Rodino law — the U.S. antitrust review clock for big mergers — expired on Feb. 4. The deal still needs several foreign regulatory approvals, the filing said. (SEC)
Kenvue last week reported stronger-than-expected fourth-quarter results and announced plans to cut about 3.5% of its workforce, or roughly 770 employees. It also said it expected about $250 million in pre-tax restructuring and other costs in 2026 tied to the move. (Reuters)
Chief Executive Kirk Perry struck a steady note on the tie-up even as the company pointed to restructuring ahead. “We ended 2025 with stronger top- and bottom-line performance in the fourth quarter,” Perry said in a statement. (Kenvue Investors)
Kenvue has also limited its usual earnings-stage choreography around the numbers because of the pending deal. It said earlier this month it would not host a quarterly conference call to discuss results. (Business Wire)
The broader tape was firmer in early trading, with the S&P 500 ETF up about 0.7% and the consumer staples sector ETF up roughly 0.2%.
Kenvue sells household brands including Tylenol, Band-Aid, Listerine, Neutrogena and Aveeno, and says its products reach about 1.2 billion people globally. (Kenvue Investors)
But the deal math can shift fast. Delays in overseas clearances, or a slide in Kimberly-Clark shares, could widen the spread — and cost cuts can backfire if they disrupt supply chains or brand support.
The next date on investors’ calendars is Kenvue’s quarterly dividend of $0.2075 per share, payable on Feb. 25. Beyond that, the market will be looking for the next regulatory update that tightens — or stretches — the path to closing. (Kenvue Investors)
