Why Kenvue Stock Shows No Change: Trading Suspended as Kimberly-Clark Closes Its $40 Billion-Plus Takeover

Kenvue Inc. shares appeared unchanged on Thursday amid one of the most turbulent sessions of the year on Wall Street, but there was a simple reason: the maker of Tylenol, Listerine and Band-Aid no longer trades as an independent company.

Market data showed Kenvue at $19.31, unchanged at 0.00%, a stale last-trade figure reflecting the end of its run as a public company after Kimberly-Clark Corp. completed its acquisition.

Deal completed

Kenvue announced the completion of its merger with Kimberly-Clark on Nov. 2, 2026, marking the end of the consumer health company's brief run as a standalone public company.

Kenvue notified the New York Stock Exchange that the merger had been completed and requested that trading in its common stock be suspended prior to the market open on the closing date.

The stock will be formally removed soon. Kenvue is scheduled to be delisted from the New York Stock Exchange on Nov. 12, 2026.

What shareholders receive

Each outstanding Kenvue share was converted into the right to receive $3.50 in cash plus 0.14625 shares of Kimberly-Clark common stock. Former Kenvue shareholders will now see their stake reflected in Kimberly-Clark shares in their brokerage accounts.

A consumer health giant

The combination creates a major player in household products. The combined portfolio includes 10 billion-dollar brands, such as Huggies, Kleenex, Kotex, Neutrogena, Tylenol, Listerine and Johnson's Baby.

Kimberly-Clark said the deal is expected to generate approximately $2.1 billion in annual run-rate synergies.

Kimberly-Clark Chairman and CEO Mike Hsu said, "Today marks a defining moment in Kimberly-Clark's 154-year history." He added that the focus now is to move with speed and purpose to unlock the full potential of the combination.

Debt exchange

Kimberly-Clark also restructured Kenvue's debt. About $6.38 billion of Kenvue notes were tendered in exchange offers for new Kimberly-Clark notes.

A short public life

Kenvue's time as a standalone company was brief. Johnson & Johnson completed the exchange offer that made Kenvue a fully independent company on Aug. 23, 2023. Kenvue entered into the merger agreement with Kimberly-Clark on Nov. 2, 2025.

Shareholders of both companies voted overwhelmingly to approve the deal on Jan. 29, 2026.