ACCC approves $68 billion acquisition

The ACCC has approved the $68 billion (US$48.7 billion) sale of consumer healthcare giant Kenvue to Kimberly-Clark, with a caveat.

Kimberly-Clark must divest Kenvue's period care brands to ensure competition in the category is maintained in the Australian market if it buys Kenvue, the ACCC ruled.

"We consider that without the divestiture of the Carefree and Stayfree brands, the acquisition could substantially lessen competition in the supply of period care products in Australia," ACCC Commissioner, Dr Philip Williams, said.