Kimberly-Clark proposes remedies in a bid to obtain EU approval for the Kenvue acquisition

Reuters Brussels, September 23 - A document published on the European Commission website on Wednesday shows that Kimberly-Clark (KMB.O) has proposed remedies to address the European Union's antitrust concerns over its $40 billion acquisition of Tylenol maker Kenvue (KVUE.N).

The European Commission, as the EU's competition regulator, did not disclose the specifics of these remedies in accordance with its policy. The deadline for the Commission's decision has been extended from September 29 to October 13.

The European Commission is expected to seek input from competitors and customers before deciding whether to accept the concessions, request further measures, or launch a full four-month investigation.

Last week, sources told Reuters that the company which makes “Kleenex” tissues and “Huggies” diapers was prepared to sell (link) assets to address the EU's antitrust concerns, a move expected to help it gain approval after the regulators' preliminary review.

Kenvue's brand portfolio includes Listerine mouthwash and skincare brands Aveeno and Neutrogena.

Earlier this month, the Australian competition regulator approved the deal on condition that Kimberly-Clark divests Kenvue's Carefree and Stayfree feminine care brands in the country. Last month, the US company also received conditional approval in South Africa.

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