Deal Math, Legal Headlines, and What Investors Are Watching
Kenvue Inc. (NYSE: KVUE) is trading in a very particular kind of gravity field on December 23, 2025: part consumer-health staple, part legal-headline lightning rod, and—most importantly right now—part merger-arbitrage instrument because of its pending acquisition by Kimberly-Clark.
As of the latest U.S. session data available Tuesday, KVUE traded around $16.98, while Kimberly-Clark (NYSE: KMB) traded around $99.97.
That matters because Kenvue shareholders are set to receive $3.50 in cash plus 0.14625 shares of Kimberly-Clark for each Kenvue share at closing, under the announced transaction terms. [1]
This structure turns KVUE into a living spreadsheet cell: every $1 move in KMB changes the stock portion of the payout by about $0.146…
