China Clears Kimberly-Clark’s $40 Billion Kenvue Acquisition

China’s State Administration for Market Regulation (SAMR) cleared Kimberly-Clark’s proposed $40 billion acquisition of Kenvue on Oct. 10, marking another regulatory step for the pending transaction.

Three days later, the European Commission granted conditional approval after Kimberly-Clark offered to divest tampon and other feminine hygiene brands. The commission’s competition concerns centered on those products, particularly tampon markets in Czechia, Estonia and Slovakia. European approval remains tied to the offered remedies.

Kimberly-Clark has also obtained the required bondholder consents for proposed amendments to Kenvue’s outstanding notes. The amendments take effect only if the related exchange offers settle; settlement was not expected before Nov. 2.