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Kenvue and Kimberly-Clark have agreed to merge in a cash and stock deal. The merger favors Kimberly-Clark, with the company set to receive a 72% stake in the combined entity. Kenvue shareholders will receive $17 per share, while Kimberly-Clark shareholders will receive 0.583 shares of the new company for each share held. The deal is expected to close in the second quarter of 2023.

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