New consumer products giant: Kimberly-Clark buys Tylenol maker

Kimberly-Clark, one of the world's largest makers of consumer packaged goods, announced that it is buying Kenvue, which makes the popular painkiller Tylenol, in a deal worth about $48.7 billion, creating a new giant in the consumer products industry, CNBC noted .

Kenvue jumped 19% in pre-market trading in New York. The company's shareholders will receive $3.5 in cash and 0.15 of Kimberly-Clark paper for each Kenvue share they own, according to Reuters calculations, which equates to a deal price of $21.01 per share, equivalent to a market value of $40.32 billion.

Kimberly-Clark shares collapsed 16% in the premarket.

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