Kimberly-Clark weighs asset sales amid EU review of Kenvue deal

Kimberly-Clark is preparing potential asset sales and other concessions to address European Union antitrust concerns over its roughly $40 billion acquisition of Kenvue, the maker of Tylenol, Listerine and brands including Aveeno and Neutrogena. The European Commission is expected to formally outline its objections this week, moving the deal into a more serious phase of regulatory review. Kimberly-Clark could offer remedies before the preliminary review concludes on Sept. 29; otherwise, the commission could open a longer, full-scale investigation. The proposed divestitures may focus on overlapping consumer-product businesses, as Kimberly-Clark has already agreed to sell Kenvue’s Carefree and Stayfree period-care brands in South Africa, where the deal received conditional approval. The companies’ shares rose after reports of the potential concessions, suggesting investors view them as a possible path to completing the transaction rather than a deal-killer.