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Kenvue Stock Drops Today as Kimberly-Clark Selloff Cuts Takeover Offer Value
Kenvue Inc. shares fell by 1.6% due to a 2.2% drop in Kimberly-Clark’s stock, which reduced the value of its proposed takeover offer for Kenvue. The decline in Kimberly-Clark’s shares means that the mixed cash and stock offer for Kenvue is now valued at approximately $17.81 per share, just slightly above Kenvue’s last trading price. This merger spread indicates ongoing investor concerns about risks such as regulatory hurdles and litigation, despite shareholder approvals.