Kimberly-Clark has asked EU regulators for permission to proceed with its proposed $40 billion takeover of Tylenol maker Kenvue, documents on the EU Commission website showed. Kimberly-Clark announced the transaction in November last year and said it expected the deal to close in the second half of 2026. The company forecast $2.1 billion in annual cost savings. Kenvue's portfolio, including Listerine mouthwash and skincare brands Aveeno and Neutrogena, is expected to generate roughly $32 billion in annual revenue for the combined company.