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Kimberly-Clark offers bonds to help fund Tylenol maker takeover. Kimberly-Clark Corp. is looking to help fund its pending acquisition of Kenvue Inc. as it aims to rival Unilever PLC Bloomberg News Brian Smith and Ying Luthra Published Oct 19, 2026 Kimberly-Clark Corp. is selling investment-grade bonds in as many as five parts to help fund its pending acquisition of Tylenol maker Kenvue Inc. The consumer-goods company is offering notes in as many as five parts with maturities of two to 10 years, according to a person with knowledge of the matter, who asked not to be identified because the details are private. Initial price discussions for the longest tenor involve a premium of about one percentage point above U.S. Treasuries, the person added. Story continues below This advertisement has not loaded yet, but your article continues below. Kimberly-Clark held investor calls on Friday, amid a turbulent period for markets. Numerous companies held off on bringing high-grade bond sales last week as Treasury yields swung sharply on stronger-than-expected U.S. inflation data and worries about the artificial-intelligence trade. Canada's best source for investing news, analysis and insight. Interested in more newsletters? Browse here. The Kleenex maker's third-quarter report is due on Nov. 5. Companies typically don't issue bonds in the roughly two-week period before disclosing results. JPMorgan Chase & Co. provided US$7.7 billion in bridge financing late last year to help fund the acquisition. The bond sale is expected to replace that temporary borrowing facility. Other banks managing the bond sale are Citigroup Inc. and Morgan Stanley, the person said. The largely-stock acquisition, expected to close by the end of the year, is currently valued at about US$36 billion. Compensation is set to include US$6.7 billion of cash that would in part come from new debt sales, Kimberly-Clark has previously said. Kenvue has struggled financially since being spun off from Johnson & Johnson in 2023, and the company found itself battling with the Trump administration last year over the safety of its biggest product, Tylenol. Its portfolio also includes Neutrogena lotion, Listerine mouthwash, Benadryl allergy medicine and Band-Aid wound care products. Kimberly-Clark said when the combination was announced last year that buying Kenvue would create a company with US$32 billion in revenue and allow it to surpass Unilever PLC to become the second-biggest seller of health and wellness products after Procter & Gamble Co.

Senator Elizabeth Warren, a Massachusetts Democrat, has warned that McCormick's proposed $45 billion merger with Unilever's foods business could raise grocery prices. The deal would combine brands such as Cholula, Frank's RedHot, Hellmann's, and Knorr. Online users mocked her "Big Condiment" warning. In an October 6 letter to the Justice Department and Federal Trade Commission, Warren urged regulators to scrutinise the deal, along with two other proposed food-industry mergers. She argued it could reduce competition for shoppers' spending and retailers' shelf space, leaving consumers with fewer choices. Announced in March, the deal is expected to close by mid-2027, subject to regulatory and shareholder approvals.

The Wholesale Group charts new horizons as 115 delegates gather in Tenerife's beautiful lesser-known north. The Wholesale Group brought together 115 delegates in northern Tenerife for its 2026 annual conference, combining 632 one-to-one business meetings, new Member Roundtables and a programme focused on future growth. The Wholesale Group, the UK's leading independent wholesale buying group, brought together 115 delegates from across its 241-strong membership and 400+ supplier partners for its 2026 annual conference, themed 'New Horizons'. The Group deliberately chose Tenerife's north coast over its better-known south - a beautiful, less-travelled side of the island, which gave delegates the chance to experience all Tenerife has to offer while focusing on business development. Across two mornings, 632 pre-arranged business meetings took place between members and suppliers - underlining The Wholesale Group's continued belief that, in an increasingly digital trading environment, real commercial value is still built face to face. New for 2026: Member Roundtables New this year, The Wholesale Group introduced a morning of Member Roundtables, giving members dedicated time to sit down together and share first-hand experience of the pressures facing the sector today - staffing, sustainability, market consolidation and the rising cost of doing business. The format reflects one of the four pillars behind The Wholesale Group's three-year plan - Member Community & Interaction - built on the principle that the strongest membership is one that trades with, and learns from, itself, not only through the Group. "There is nothing quite like bringing members and suppliers together face to face, and Tenerife's beautiful north gave us the perfect backdrop to do just that," said Jess Douglas, Managing Director - People and Operations at The Wholesale Group. "The Roundtables also achieved exactly what we hoped: members speaking candidly with one another about the pressures they're facing - from staffing to sustainability - and leaving with practical ideas they can take straight back into their own businesses. These events show how integral relationships and human interaction are in developing business across the buying group in these difficult times." A group scaling with intent Presentations from the central office team reported group turnover of £4.6bn, up 10.1% in H1 2026 compared with the same period last year, generated by its 241 members serving 350,000 end-user customers through 28,477 SKUs across 142 categories. Foodservice (£2.66bn, +10.3%) and retail (£1.94bn, +9.7%) both grew ahead of the wider market, with frozen the standout category, up 77% year on year. The past 12 months have also seen 161 new supplier partners welcomed, all four own-brand ranges extended, and own-brand SKUs grow by 80 lines to 209 - including the launch of CORE Juices, already forecast to reach £500,000 in its first year. Delegates also heard from leading industry experts, with FWD's James Bielby guiding them through the ever-changing political landscape, TWC's Tom Fender rounding up current market trends and Shop AI's Ilann Hepworth on the future of AI and the important mantra of 'Human First'. "This year's TWG conference was a brilliant opportunity to bring people together, strengthen relationships and celebrate the power of collaboration," said David Clutterbuck, Head of Independent Wholesale at Unilever. "Beyond the great conversations and fun along the way, what stood out most was the real business development on offer - the one-to-one meetings gave us focused time to explore genuine opportunities with members, and that's exactly the kind of momentum that turns relationships into results. We're already looking forward to building on it." Member Chris Georgiades commented: "The TWG 2026 Conference was the ideal mix of networking, valuable information and, of course, having fun while doing so. Having all suppliers under one roof provided a fantastic opportunity to discuss everything from brand plans and pricing to future opportunities, helping us strengthen relationships and gain valuable insight into what lies ahead for the industry. A great weekend all round and a real reminder of the value of being part of The Wholesale Group." Looking ahead The conference also set out The Wholesale Group's ambition to grow group turnover to £5bn and reach a 15% share of the UK wholesale market - growth the Group says will come from deepening its existing membership rather than simply adding more members. "'New Horizons' captured the spirit of this conference perfectly - a less-travelled corner of Tenerife mirroring the new ground we're breaking as a Group," added Jess Douglas. "What struck me most was the strength of collaboration in the room; members and suppliers alike recognise that we are stronger working together than apart. And as a Group offering scale in both retail and foodservice, we are in a fantastic position to grow business for every member and supplier we work with." The Wholesale Group also used the conference to announce that its 2027 annual conference will be held in Montenegro, continuing the Group's tradition of pairing business development with destinations that inspire fresh thinking.