Australia’s competition regulator approved Kimberly-Clark’s proposed $40 billion takeover of Kenvue on Sept. 2, subject to the divestiture of Kenvue’s Carefree and Stayfree period care brands in the country. The Australian Competition and Consumer Commission (ACCC), Australia’s competition regulator, said the brands must be sold to an approved purchaser because Kimberly-Clark and Kenvue are two of the three major suppliers of period care products in Australia. Without the sale, the deal could lessen competition in the market. Announced in November, the transaction would give Kimberly-Clark Kenvue brands including Listerine mouthwash and Neutrogena, while also exposing it to lawsuits Kenvue faces over Tylenol. Kimberly-Clark has separately sought approval from EU regulators, documents on the European Commission’s website showed last week. ACCC Commissioner Philip Williams said the divestiture would preserve an independent competitor and maintain competition that could otherwise be lost through the acquisition.