What Drove Kimberly-Clark’s $40 Billion Deal for Tylenol Maker Kenvue

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  I'm Alex Osela for The Wall Street Journal.

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  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

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  In one of the biggest takeovers of the year,

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  Kimberly-Clark has agreed to buy Tylenol Maker Kenview for more than $40 billion.

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  The cash-on-stock deal would create a company with $32 billion in annual revenue,

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  whose brands include household staples like Huggies,

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  Kleenex, Cottonel Toilet Paper, and Listerine Mouthwash.

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  Plus, of course, Tylenol.

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