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Kimberly-Clark buying Tylenol maker Kenvue in $48.7 billion deal
Legal Information |
2025/11/01 08:53
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Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company.
Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46%.
The combined company will have a large stable of household brands under one roof, putting Kenvue’s Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark’s Cottonelle toilet paper, Huggies and Kleenex tissues. It will also generate about $32 billion in annual revenue.
Kenvue has spent a relatively brief period as an independent company, having been spun off by Johnson & Johnson two years ago. J&J first announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions.
The deal announced Monday is among the largest corporate takeovers of the year.
Kenvue was thrust into the national spotlight last month when Health Secretary Robert F. Kennedy, Jr. reasserted the unproven link between the pain reliever Tylenol and autism, and suggested people who opposed the theory were motivated by hatred for President Donald Trump.
During a meeting with Trump and the Cabinet, Kennedy reiterated the connection, even while noting there was no medical proof to substantiate the claim.
In July Kenvue, announced that CEO Thibaut Mongon was leaving in the midst of a strategic review with the company under mounting pressure from activist investors. Board member Kirk Perry is serving as interim CEO.
“We will serve billions of consumers across every stage of life,” Kimberly-Clark Chairman and CEO Mike Hsu said in a statement.
Hsu will be chairman and CEO of the combined company. Three members of the Kenvue’s board will join Kimberly-Clark’s board at closing. The combined company will keep Kimberly-Clark’s headquarters in Irving, Texas and continue to have a significant presence in Kenvue’s locations.
The deal is expected to close in the second half of next year. It still needs approval from shareholders of both both companies.
Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.
Kimberly-Clark and Kenvue said that they identified about $1.9 billion in cost savings that are expected in the first three years after the transaction’s closing.
Shares of Kimberly-Clark slipped more than 15% before the market open, while Kenvue’s stock jumped more than 20%.
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Kamala Harris leaves door open for 2028 presidential run
Legal World News |
2025/10/25 16:04
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Kamala Harris isn’t ruling out another run for the White House.
In an interview with the BBC posted Saturday, Harris said she expects a woman will be president in the coming years, and it could “possibly” be her.
“I am not done,” she said.
The former vice-president said she hasn’t decided whether to mount a 2028 presidential campaign. But she dismissed the suggestion that she’d face long odds.
“I have lived my entire career a life of service and it’s in my bones. And there are many ways to serve,” she said. “I’ve never listened to polls.”
She’s recently given a series of interviews following the September release of her book, “107 Days.” It looks back on her experience replacing then-President Joe Biden as the 2024 Democratic presidential nominee after he dropped out of the race.
She ultimately lost to Republican President Donald Trump.
In an interview with The Associated Press last week, Harris, 60, also made clear that running again in 2028 is still on the table. She said she sees herself as a leader of the party, including in pushing back against Trump and preparing for the 2026 midterms.
Asked in an Oct. 17 interview with AP whether she had plans for a 2028 bid, Harris said, “I haven’t decided. Sincerely. I have not decided. I may or I may not. I have not decided.”
Asked specifically whether she still wanted to do the job itself, she used the past tense, saying, “It’s a job I wanted to do.” But she noted that the only way to do it “is to run” and win.
Meanwhile, political jockeying among Democrats for the 2028 presidential contest appears to be playing out even earlier than usual.
Several potential candidates are already taking steps to get to know voters in key states, including California Gov. Gavin Newsom, term-limited Kentucky Gov. Andy Beshear and California Rep. Ro Khanna. Upwards of 30 high-profile Democrats could ultimately enter the primary.
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US and Australia sign critical-minerals agreement as a way to counter China
Law Firm Press Release |
2025/10/22 16:04
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President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals deal at the White House on Monday as the U.S. eyes the continent’s rich rare-earth resources at a time when China is imposing tougher rules on exporting its own critical minerals abroad.
The two leaders described the agreement as an $8.5 billion deal between the allies. Trump said it had been negotiated over several months.
“In about a year from now we’ll have so much critical mineral and rare earth that you won’t know what to do with them,” said Trump, a Republican, boasting about the deal. “They’ll be worth $2.”
Albanese added that the agreement takes the U.S.-Australia relationship “to the next level.”
Earlier this month, Beijing announced that it will require foreign companies to get approval from the Chinese government to export magnets containing even trace amounts of rare-earth materials that originated from China or were produced with Chinese technology. The Trump administration says this gives China broad power over the global economy by controlling the tech supply chain.
“Australia is really, really going to be helpful in the effort to take the global economy and make it less risky, less exposed to the kind of rare earth extortion that we’re seeing from the Chinese,” Kevin Hassett, the director of the White House’s National Economic Council, told reporters Monday morning ahead of Trump’s meeting with Albanese.
Hassett noted that Australia has one of the best mining economies in the world, while praising its refiners and its abundance of rare earth resources. Among the Australian officials accompanying Albanese are ministers overseeing resources and industry and science, and Australia has dozens of critical minerals sought by the U.S. because they are needed in everything from fighter jets and electric vehicles to laptops and phones.
The agreement could have an immediate impact on rare earth supplies in the United States if American companies can secure some of what Australian mines are already producing, although it will take years — if not decades — to develop enough of a supply of rare earths outside of China to reduce its dominance.
Pini Althaus, who founded USA Rare Earth back in 2019 and is now working to develop new mines in Kazakhstan and Uzbekistan as CEO of Cove Capital, said it will be crucial that the contracts to buy materials from Australian mines include price floors, similar to what the U.S. government promised MP Materials this summer, to protect against China manipulating prices.
For decades, China has used the tactic of dumping excess critical minerals onto the market to drive prices down to force mining companies in the rest of the world out of business to eliminate any competition.
“I think taking away that arrow in the quiver of China to manipulate pricing is an absolute crucial first step in Australia and the West being able to develop critical minerals projects to meet our supply chain demands,” said Althaus, who has spent nearly a quarter-century in the mining business.
The agreement underscores how the U.S. is using its global allies to counter China, especially as it weaponizes its traditional dominance in rare earth materials. Top Trump officials have used the tactics from Beijing as a rallying cry for the U.S. and its allies to work together to try to minimize China’s influence.
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‘No Kings’ protests against Trump bring a street party vibe to cities
Law Firm Press Release |
2025/10/20 16:03
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Large crowds of protesters marched and rallied in cities across the U.S. Saturday for “ No Kings ” demonstrations decrying what participants see as the government’s swift drift into authoritarianism under President Donald Trump.
People carrying signs with slogans such as “Nothing is more patriotic than protesting” or “Resist Fascism” packed into New York City’s Times Square and rallied by the thousands in parks in Boston, Atlanta and Chicago. Demonstrators marched through Washington and downtown Los Angeles and picketed outside capitols in several Republican-led states, a courthouse in Billings, Montana, and at hundreds of smaller public spaces.
Trump’s Republican Party disparaged the demonstrations as “Hate America” rallies, but in many places the events looked more like a street party. There were marching bands, huge banners with the U.S. Constitution’s “We The People” preamble that people could sign, and demonstrators wearing inflatable costumes, particularly frogs, which have emerged as a sign of resistance in Portland, Oregon.
It was the third mass mobilization since Trump’s return to the White House and came against the backdrop of a government shutdown that not only has closed federal programs and services but is testing the core balance of power, as an aggressive executive confronts Congress and the courts in ways that protest organizers warn are a slide toward authoritarianism.
In Washington, Iraq War Marine veteran Shawn Howard said he had never participated in a protest before but was motivated to show up because of what he sees as the Trump administration’s “disregard for the law.” He said immigration detentions without due process and deployments of troops in U.S. cities are “un-American” and alarming signs of eroding democracy.
“I fought for freedom and against this kind of extremism abroad,” said Howard, who added that he also worked at the CIA for 20 years on counter-extremism operations. “And now I see a moment in America where we have extremists everywhere who are, in my opinion, pushing us to some kind of civil conflict.”
Trump, meanwhile, was spending the weekend at his Mar-a-Lago home in Florida.
“They say they’re referring to me as a king. I’m not a king,” the president said in a Fox News interview that aired early Friday, before he departed for a $1 million-per-plate MAGA Inc. fundraiser at his club.
A Trump campaign social media account mocked the protests by posting a computer-generated video of the president clothed like a monarch, wearing a crown and waving from a balcony.
In San Francisco hundreds of people spelled out “No King!” and other phrases with their bodies on Ocean Beach. Hayley Wingard, who was dressed as the Statue of Liberty, said she too had never been to a protest before. Only recently she began to view Trump as a “dictator.”
“I was actually OK with everything until I found that the military invasion in Los Angeles and Chicago and Portland — Portland bothered me the most, because I’m from Portland, and I don’t want the military in my cities. That’s scary,” Wingard said.
Tens of thousands of people gathered in Portland for a peaceful demonstration downtown. Later in the day, tensions grew as a few hundred protesters and counterprotesters showed up at a U.S. Immigration and Customs enforcement building, with federal agents at times firing tear gas to disperse the crowd and city police threatening to make arrests if demonstrators blocked streets.
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