Filing Flows › Kimberly Clark (KMB) › Takeover & LBO
Is Kimberly Clark (KMB) a takeover target?
A leveraged buyout at today's price plus 30% ($143.60 a share) would return a loss of about 5% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $69.81 a share (−37% against today's $110.46). Historically 2.3% of companies with its figures were bought within a year (0.47× the average). Latest signal (2026-11-02): Kimberly-Clark Completes Acquisition of Kenvue,.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $143.60 | today's $110.46 plus 30% |
| × shares | 333.7 million | |
| = Equity value | $47.9B | |
| + Debt refinanced | $6.9B | |
| − Cash | $1.9B | |
| + Other claims | $142M | preferred stock, minority interests |
| = Enterprise value | $53.1B | 16.9× EBITDA of $3.1B |
| Fees | $1.1B | 2% of the price |
| New debt | $17.3B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $36.9B | 68% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $16.7B | $3.2B | $1.3B | $89.2M | $17.2B |
| Year 2 | $16.9B | $3.2B | $1.3B | $96.7M | $17.1B |
| Year 3 | $17.2B | $3.3B | $1.3B | $111M | $17.0B |
| Year 4 | $17.6B | $3.3B | $1.3B | $133M | $16.9B |
| Year 5 | $18.1B | $3.4B | $1.3B | $162M | $16.7B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 13.4× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $45.9B | |
| − Debt left | $16.7B | |
| = Buyer's equity | $29.2B | |
| Money multiple | 0.79× | on $36.9B put in |
| Buyer's yearly return (IRR) | −4.5% |
Price against return
What the buyer makes at other premiums over today's $110.46; the IRR reaches 20% at $69.81 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $121.51 | −0.1% |
| 20% | $132.55 | −2.5% |
| 30% | $143.60 | −4.5% |
| 40% | $154.64 | −6.4% |
| 50% | $165.69 | −8.0% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $16.6B | |
| EBITDA, last 12 months | $3.1B | 19.0% of revenue |
| Depreciation and amortization | $733M | |
| Capital spending | $1.4B | |
| Debt | $6.9B | |
| Cash | $1.9B | |
| Share price | $110.46 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 0.6% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 27% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Kimberly Clark would cost about $146.36 a share, $48.8B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $132.55 | $44.2B |
| Median | 32.5% | $146.36 | $48.8B |
| High end (a quarter paid more) | 51.8% | $167.68 | $56.0B |
The odds, from history
Historically 2.3% of companies with its figures were bought within a year (0.47× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-02 · 8-K deal · Kimberly-Clark Completes Acquisition of Kenvue,
- 2026-10-29 · 8-K deal · On October 29, 2026, Kimberly-Clark Corporation (the “Corporation”) completed the previously announced sale of $4.9 billion aggregate principal amount of its senior unsecured notes, consisting of: (i)$750,000,000 aggregate principal amount
Kimberly Clark's latest quarter
Kimberly Clark, Q3 2026: revenue $4.1B (-0.4% year over year), operating margin 12.5%, net earnings $1.8B, operating cash flow $755M. The chart follows the revenue to costs, profit and cash.
Questions
Is Kimberly Clark being acquired?
The latest signal on file is from 2026-11-02: Kimberly-Clark Completes Acquisition of Kenvue,. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy Kimberly Clark?
A leveraged buyout at today's price plus 30% ($143.60 a share) would return a loss of about 5% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $69.81 a share (−37% against today's $110.46).
What would a takeover of Kimberly Clark cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Kimberly Clark would cost about $146.36 a share, $48.8B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.