Kenvue shares rose 0.4% in premarket trading Monday, reaching $18.13, as market participants monitored the stock's valuation relative to a pending takeover bid from Kimberly-Clark.
The consumer health company's stock continues to trade approximately $1 below the implied value of Kimberly-Clark's cash-and-stock offer, which is calculated at about $19.15 per Kenvue share based on Kimberly-Clark's recent share price near $104.33.
Key near-term events include a dividend record date of February 11 for a quarterly payout of $0.2075 per share, with distribution scheduled for February 25. The company is also set to release its fourth-quarter and full-year 2025 financial results after the market closes on February 17, though no accompanying conference call is planned due to the pending transaction.
The acquisition, which received strong shareholder approval from both companies on January 29, still requires U.S. antitrust clearance and other regulatory approvals. An outside completion date has been set for November 2, 2026, though this deadline could be extended if regulatory reviews take longer than anticipated.
Merger arbitrage traders are closely watching the spread between Kenvue's current price and the deal's implied value, as this gap can fluctuate based on perceived regulatory risks, potential delays, or broader market sentiment.
