Big Law firms including Cravath and Kirkland led
Cravath, Swaine & Moore’s M&A team guiding Kenvue was led by co-chairs of the firm’s global mergers and acquisitions Practice Robert I. Townsend III and George F. Schoen; and corporate partners Michael E. Mariani and Jin-Kyu Baek. Townsend and Schoen worked on the separation of Johnson & Johnson’s consumer health business beginning in 2021.
Kimberly-Clark was guided by Kirkland & Ellis. Its team included Kim Hicks, who is a founding partner of the firm’s Austin office; and corporate partners Edward J. Lee and Steven Choi.
The deal values Kenvue at $48.7 billion on an enterprise basis, according to the companies. Kenvue was spun off from Johnson & Johnson in 2023 and has faced scrutiny from the Trump administration on the safety of its biggest product, Tylenol.
Gibson Dunn & Crutcher and Arnold & Porter Kaye Scholer guided Kimberly-Clark on legal and healthcare regulatory matters. Gibson Dunn’s team was led by partners Theodore J. Boutrous and Timothy Loose; and Arnold & Porter’s team included Dan Kracov and Eva Temkin.
A Latham & Watkins team, led by global chair of the firm’s capital markets practice Stelios Saffos, and partners Michele Penzer and Erika Weinberg, guided the financing sources in the transaction.
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