New York, Feb 17, 2026, 08:21 EST — Premarket
- Kenvue is ticking up 0.3% before the bell, after ending the previous session at $18.70.
- Company’s results are slated for release after the bell. This quarter, there won’t be a conference call.
- Traders are watching the deal “spread” against Kimberly-Clark’s cash-and-stock bid.
Kenvue Inc (KVUE.N) edged up 0.3% to $18.75 before the bell Tuesday. The previous session wrapped with the stock at $18.70. (Investing)
Just hours ahead of its scheduled fourth-quarter and full-year earnings release, the consumer health company finds itself under the microscope. Kimberly-Clark (KMB.O) has a takeover bid on the table, putting traders on high alert for deal risk—sometimes outshining the numbers themselves.
Kenvue shareholders are set to get $3.50 in cash plus 0.14625 Kimberly-Clark shares per Kenvue share once the deal closes. With Kimberly-Clark trading higher by about 1% this morning at $109.41, the math adds up to an implied $19.50 per Kenvue share. That leaves a 4% spread—the kind merger-arb funds watch closely if the deal completes. (Kenvue)
Kenvue plans to put out its results after the bell on Feb. 17, but won’t hold a quarterly conference call as it works through the pending transaction. The lineup features names like Tylenol, Listerine, and Neutrogena. (Kenvue)
Shareholders at both Kimberly-Clark and Kenvue backed the necessary proposals for the deal on Jan. 29, setting the stage for the acquisition, which the companies aim to wrap up in the latter half of 2026—pending regulatory sign-off and standard closing conditions. “This is an exciting milestone,” said Kimberly-Clark CEO Mike Hsu. (Kenvue)
Kenvue’s CFO Amit Banati is set to leave on May 12, according to a filing, as he looks to take on a CEO job at another company. With the Kimberly-Clark deal coming up, Kenvue said it will name an interim principal financial officer. (SEC)
Kenvue’s board declared a quarterly cash dividend of $0.2075 per share, set for payment on Feb. 25 to investors holding shares as of Feb. 11. For merger arb desks, the size and date of a dividend can directly tweak how the spread pencils out. (Kenvue)
The spread between Kenvue’s trading price and the offer value can quickly blow out if the market senses delays or unexpected twists. ISS has flagged risks—including ongoing lawsuits over talc-based baby powder and concerns about Tylenol’s key ingredient—that continue to shadow the deal. (Reuters)
There’s no conference call, so investors are left combing through the release—and any subsequent filings—for scraps of new information, especially anything about the deal timetable. Kimberly-Clark shares are another wildcard, shifting the value of the stock portion of the offer as they move.
Kenvue’s quarterly update lands after the U.S. closing bell, putting the spotlight on the after-hours tape. That will shape the mood heading into regular trading on Wednesday.
