Kimberly-Clark Acquisition of Kenvue Gains Approval, Valuation in Focus

Kenvue's acquisition by Kimberly-Clark has been approved by shareholders, marking a shift from a standalone consumer health company to a part of a larger group. The deal progresses towards completion, with investors focusing on deal terms, closing conditions, and the combined structure's implications for capital allocation and brand priorities. Kenvue's valuation is being closely watched, with the stock trading 5% below consensus and 36.3% below its fair value.