Tylenol manufacturer bought despite lawsuit, months of scrutiny by Trump administration
Kenvue, which has been under increased scrutiny recently after the Trump administration alleged a link between Tylenol and autism, is being acquired by Kimberly-Clark in a multibillion-dollar deal.
According to a Monday press release, Kimberly-Clark will acquire all of the outstanding shares of Kenvue common stock in a cash and stock transaction that values Kenvue at approximately $48.7 billion.
Just last week, Texas Attorney General Ken Paxton sued Kenvue and its former parent company, Johnson & Johnson.
“We are excited to bring together two iconic companies to create a global health and wellness leader,” said Mike Hsu, Kimberly-Clark chairman and chief executive officer.
“We look forward to working with the Kenvue team to bring these companies together and are confident that we will drive significant value for our combined shareholders,” Hsu continued.
“Our combination with Kimberly-Clark unites two highly complementary portfolios filled with iconic, beloved brands and everyday essentials that people trust and count on throughout their lives,” said Kirk Perry, chief executive officer of Kenvue.
RELATED: Headaches continue for Tylenol brand as Texas AG files lawsuit over alleged autism link
Photo by Dave Kotinsky/Getty Images for Kenvue
Kenvue, however, has increasingly been viewed as a liability as allegations of a link between prenatal use of Tylenol and autism have been leveled by members of the Trump administration and other leaders.
Just last week, Texas Attorney General Ken Paxton sued Kenvue and its former parent company, Johnson & Johnson.
Paxton said, “Johnson & Johnson attempted to escape responsibility by illegally offloading their liability onto a different company,” apparently referring to Kenvue.
Kimberly-Clark’s current portfolio — which includes well-known brands such as Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, and Goodnites — will combine with Kenvue, which produces brands including Aveeno, Band-Aid, Johnson’s, Listerine, Neutrogena, and, of course, Tylenol.
The Associated Press reported that Kimberly-Clark shares dropped 15% before the market open and Kenvue’s stock rose more than 20%.
Blaze News reached out to Kimberly-Clark for comment but did not receive a response.
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Mississippi Delta sheriffs and officers arrested over alleged Mexican drug cartel bribery scheme
More than a dozen law enforcement officials in the Mississippi Delta area were charged by the Department of Justice for allegedly accepting bribes from what they believed to be members of a Mexican drug cartel.
U.S. Attorney Clay Joyner said at a news conference Thursday that the DOJ secured indictments against 20 people, including two elected sheriffs as well as 14 current or former law enforcement officers. The investigation was conducted over several years.
‘The law must apply equally to everyone regardless of the title or position they hold. Know that if you betray the people’s trust in Mississippi, you will face consequences.’
“We’re here today to talk about some incredibly serious allegations that mark a very — it’s just a monumental betrayal of public trust,” said Joyner. Law enforcement officers and their accomplices allegedly provided safe passage to people they believed were drug traffickers in exchange for money. They were allegedly led to believe they were helping transport 25 kilograms of cocaine. “They are also indicted for related firearms offenses and, of course, individual counts related to specific runs throughout the Mississippi Delta,” he added.
Washington County Sheriff Milton Gaston and Humphreys County Sheriff Bruce Williams were among those arrested.
“Law enforcement is only effective when the community they protect can trust the law enforcement officers are honestly serving the community’s interests,” said FBI Special Agent Robert Eikhoff. “This type of corruption strikes at the heart of the community.”
Some of the alleged bribes ranged between $20,000 and $37,000, according to prosecutors.
RELATED: Four Toledo City Council members, all Democrats, arrested by FBI on bribery charges
Mississippi Republican Gov. Tate Reeves released a statement about the indictments.
“The law must apply equally to everyone regardless of the title or position they hold,” Reeves wrote. “Know that if you betray the people’s trust in Mississippi, you will face consequences.”
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