Kimberly-Clark's $40bn Kenvue Takeover Clears the EU Conditionally — Feminine-Care Divestments Come First

**Source:** Jumeili (聚美丽) · **Date:** 2026-10-16 · **Category:** M&A / Consumer health *原文：2676亿！今年最大并购案将诞生下一个宝洁？* On October 13 Jumeili reported that European Union competition authorities have granted conditional approval to Kimberly-Clark's planned $40 billion (about ¥267.6bn) acquisition of Kenvue. The transaction can proceed, but only after Kimberly-Clark and Kenvue first satisfy the regulator's requirements. The headline condition: both sides must sell off feminine-care businesses across several markets before the merger completes — a carve-out designed to resolve the competition overlap rather than block the deal outright. At the reported value it would be the year's largest personal-care M&A transaction, and Jumeili's framing is blunt about the stakes: whether the combination produces a rival at Procter & Gamble scale. For suppliers and licensees in China, the mandated divestment packages are worth tracking as potential assets changing hands. Detail --- $40bn (≈¥267.6bn): Kimberly-Clark → Kenvue EU conditional approval Divest feminine-care businesses in multiple markets Could create a P&G-scale rival, per Jumeili [Read the original article](https://www.jumeili.cn/news/view/

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