Kimberly-Clark to Buy Kenvue in Deal That Values Tylenol Maker at $48.7 Billion. Kenvue Stock Soars. Kimberly-Clark agreed to buy Kenvue in a cash-and-stock transaction that values Tylenol maker Kenvue at an enterprise value of about $48.7 billion.

Kimberly-Clark’s $40 billion deal for Kenvue, the embattled maker of Tylenol and other consumer products, seemingly flies in the face of two M.&A. maxims: skirt uncertainty whenever possible, and avo...