Kimberly-Clark readies EU remedies in bid for Kenvue deal, sources say
EXCLUSIVE-Kimberly-Clark readies EU remedies in bid for Kenvue deal, sources say BRUSSELS, Sept 14 (Reuters) - Kimberly-Clark KMB.O is readying concessions to address EU antitrust concerns about its bid for Tylenol maker Kenvue KVUE.N that could help it win approval for the $40 billion deal after a preliminary review, people familiar with the matter said.
The maker of Kleenex tissues and Huggies diapers announced the deal in November last year that would add Kenvue's vast portfolio of brands from Listerine mouth wash to skincare brands Aveeno and Neutrogena to Kimberly-Clark's range of products.
The European Commission, which acts as the EU competition enforcer, is set to inform Kimberly-Clark of its concerns this week, the people said.
(Reporting by Foo Yun Chee, Editing by Louise Heavens)
((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))