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Why Kimberly-Clark Stock Just Dropped

TheMotleyFool

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Kimberly-Clark (NASDAQ: KMB) stock tumbled 12.5% through 10:25 a.m. ET Monday, and it's not hard to figure out why.

This morning, K-C announced it will acquire Tylenol-maker Kenvue (NYSE: KVUE) in a $48.7 billion cash-and-stock deal, resulting in a powerhouse consumer goods company owning "10 iconic billion-dollar brands" -- and boasting $32 billion in annual sales.

Kenvue investors are thrilled with the news, which gives them a chance to exit Kenvue and its Tylenol-causes-autism controversy at a profit. Kenvue stock is up more than 16% today on the news.

Source Fool.com

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