Kimberly-Clark is buying Tylenol maker Kenvue in an approximately $48.7 billion cash-and-stock deal, creating a massive consumer health goods company. The combined company will have a huge stable of household brands under one roof, putting Kenvue's Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark's Cottonelle toilet paper, Huggies and Kleenex tissues. It will also generate about $32 billion in annual revenue. The deal is expected to close in the second half of next year it it's approved by shareholders from both both companies.
Target has named an insider as its next chief executive officer. The announced on Wednesday comes as the discount retailer tries to reverse a persistent sales malaise and to revive its reputation as the place to go for affordable but stylish products. Minneapolis-based Target said CEO Brian Cornell, who has led the company for 11 years, would step down on Feb. 1. The board of directors chose COO Michael Fiddelke to succeed him. Target has struggled to find its footing since inflation caused pinched shoppers to curtail their spending. Customers have complained of messy stores with merchandise that didn't reflect the expensive-looking but budget-priced niche that earned the retailer the nickname "Tarzhay."
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