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Kimberly-Clark buying Tylenol maker Kenvue in $48.7 billion deal
Law Firm SEO |
2025/11/07 08:52
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Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company.
Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46%.
The combined company will have a large 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.
Kenvue has spent a relatively brief period as an independent company, having been spun off by Johnson & Johnson two years ago. J&J first announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions.
The deal announced Monday is among the largest corporate takeovers of the year.
Kenvue was thrust into the national spotlight last month when Health Secretary Robert F. Kennedy, Jr. reasserted the unproven link between the pain reliever Tylenol and autism, and suggested people who opposed the theory were motivated by hatred for President Donald Trump.
During a meeting with Trump and the Cabinet, Kennedy reiterated the connection, even while noting there was no medical proof to substantiate the claim.
In July Kenvue, announced that CEO Thibaut Mongon was leaving in the midst of a strategic review with the company under mounting pressure from activist investors. Board member Kirk Perry is serving as interim CEO.
“We will serve billions of consumers across every stage of life,” Kimberly-Clark Chairman and CEO Mike Hsu said in a statement.
Hsu will be chairman and CEO of the combined company. Three members of the Kenvue’s board will join Kimberly-Clark’s board at closing. The combined company will keep Kimberly-Clark’s headquarters in Irving, Texas and continue to have a significant presence in Kenvue’s locations.
The deal is expected to close in the second half of next year. It still needs approval from shareholders of both both companies.
Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.
Kimberly-Clark and Kenvue said that they identified about $1.9 billion in cost savings that are expected in the first three years after the transaction’s closing.
Shares of Kimberly-Clark slipped more than 15% before the market open, while Kenvue’s stock jumped more than 20%.
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Republican US Rep. Elise Stefanik is running for governor of New York
Law Firm SEO |
2025/11/01 08:50
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U.S. Rep. Elise Stefanik, a close Republican ally of President Donald Trump, announced Friday that she’s running for governor of New York, a place she depicted in a campaign launch video as being “in ashes” because of lawlessness and a high cost of living.
In her video, a narrator declares “The Empire State has fallen” as it painted a grim picture of crime and economic crisis in New York City, though her message appeared to be aimed at other, more conservative parts of the state that she will need to win over next year.
“Under Kathy Hochul’s failed leadership, New York is the most unaffordable state in the nation with the highest taxes, highest energy, utilities, rent, and grocery prices crushing hardworking families,” Stefanik said in a statement.
Stefanik, who represents a conservative congressional district in upstate New York, has for months teased a run, leveling heavy criticism at incumbent Gov. Kathy Hochul and more recently toward Zohran Mamdani, the mayor-elect of New York City.
Last year, Trump picked Stefanik to be the administration’s ambassador to the United Nations, but later rescinded the nomination over concerns about Republicans’ tight margins in the House.
Though any Republican faces long odds of winning the governor’s mansion in New York, Stefanik’s campaign will bring solid name recognition, fundraising prowess and deep ties to the White House. Her campaign announced Friday that she has received the backing of nearly three-quarters of the state’s county Republican chairs.
In a statement, Hochul campaign spokesperson Sarafina Chitika called Stefanik “Donald Trump’s number one cheerleader in Congress.”
“Apparently, screwing over New Yorkers in Congress wasn’t enough — now she’s trying to bring Trump’s chaos and skyrocketing costs to our state,” Chitika said.
The Republican primary field remains unclear ahead of the 2026 race. U.S. Rep. Mike Lawler had been contemplating a run and was considered a potentially strong candidate, but said earlier this year that he would instead seek reelection in his battleground House district in the New York Hudson Valley.
Hochul faces a contested primary, with her own lieutenant governor, Antonio Delgado, running against her.
Stefanik, a Harvard graduate, was 30 when she was first elected to the House in 2014. She entered Congress as a moderate Republican but soon attached herself to Trump, reshaping her persona into more of a brash, outspoken MAGA disciple.
Her national profile got a big boost after she aggressively questioned a group of university presidents over antisemitism on their campuses, leading to two of their resignations and winning praise from the Republican president.
Democrats have a major voter registration edge in New York. The last Republican governor in the state was former Gov. George Pataki, who left office about two decades ago. Still, Republican Lee Zeldin, a former Long Island congressman and current head of the Environmental Protection Agency, made a serious run for the office in 2022, coming within striking distance of upsetting Hochul. |
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Man pleads not guilty to sparking deadly Palisades Fire in Los Angeles
Legal SEO Service/What We Do |
2025/10/25 16:44
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A 29-year-old man accused of sparking the deadly Palisades Fire, one of the most destructive wildfires in California history, pleaded not guilty Thursday to federal charges.
Jonathan Rinderknecht appeared in federal court Thursday afternoon after arriving in Los Angeles from Florida earlier in the day, his attorney Steve Haney said. A judge ordered that he remain in custody ahead of his trial.
Federal officials said Rinderknecht, who lived in the area, started a small fire on New Year’s Day that smoldered underground before reigniting nearly a week later and roaring through Pacific Palisades, home to many of Los Angeles’ rich and famous.
The fire, which left 12 dead in the hillside neighborhoods across Pacific Palisades and Malibu, was one of two blazes that broke out on Jan. 7, killing more than 30 people in all and destroying over 17,000 homes and buildings while burning for days in Los Angeles County.
Haney told the judge he took issue with the fact that Rinderknecht was facing charges for the Palisades Fire when he allegedly started the smaller fire beforehand known as the Lachman Fire.
“My client is being charged with a fire that started seven days after,” he said.
Rinderknecht was staying at his sister’s house in Orlando when he was arrested by federal officials on Oct. 7. He made his first court appearance the next day in Florida on a charge of malicious destruction by means of a fire.
A week later, a grand jury indicted him on additional charges including one count of arson affecting property used in interstate commerce, and one count of timber set afire. If convicted, he would face up to 20 years in federal prison.
Rinderknecht’s trial is set for December 16.
On Thursday, he appeared before U.S. Magistrate Judge Rozella Oliver wearing a white jumpsuit. His attorney argued that he should be released on bail, based on the evaluation of court officials in Florida.
Rinderknecht has no documented history of mental health issues, drug use, or prior criminal activity, Haney said.
However, the judge in Florida who ordered Rinderknecht to be detained said he had concerns about the Rinderknecht’s mental health and his ability to get to California for future court hearings.
He appeared agitated when the judge in Los Anglees again ordered that he remain in jail, interjecting into the microphone, “Can I actually say something about detainment?”
Haney said they planned to return to the judge with additional evidence for why Rinderknecht should be released on bail.
“He’s a frustrated young man,” Haney said after the hearing. “He doesn’t know why he’s in jail right now.”
Haney said they plan to argue that even if Rinderknecht was the cause of the initial smaller fire on New Year’s Day, there were several “intervening factors” in the week between that day and when the Palisades Fire ignited, mainly the Los Angeles Fire Department.
Rinderknecht made several 911 calls to report the fire, according to a criminal complaint. Federal officials called the Palisades blaze a “holdover fire” from the Jan. 1 fire, which was not fully extinguished by firefighters, the complaint said.
The city’s interim fire chief said such fires linger in root systems and can reach depths of 15 to 20 feet (4.6 to over 6 meters), making them undetectable by thermal imaging cameras.
“They had a duty to put the fire out,” Haney said. “I do think he’s a scapegoat.”
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‘No Kings’ protests against Trump bring a street party vibe to cities
Legal SEO Service/What We Do |
2025/10/20 16:40
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Large crowds of protesters marched and rallied in cities across the U.S. Saturday for “ No Kings ” demonstrations decrying what participants see as the government’s swift drift into authoritarianism under President Donald Trump.
People carrying signs with slogans such as “Nothing is more patriotic than protesting” or “Resist Fascism” packed into New York City’s Times Square and rallied by the thousands in parks in Boston, Atlanta and Chicago. Demonstrators marched through Washington and downtown Los Angeles and picketed outside capitols in several Republican-led states, a courthouse in Billings, Montana, and at hundreds of smaller public spaces.
Trump’s Republican Party disparaged the demonstrations as “Hate America” rallies, but in many places the events looked more like a street party. There were marching bands, huge banners with the U.S. Constitution’s “We The People” preamble that people could sign, and demonstrators wearing inflatable costumes, particularly frogs, which have emerged as a sign of resistance in Portland, Oregon.
It was the third mass mobilization since Trump’s return to the White House and came against the backdrop of a government shutdown that not only has closed federal programs and services but is testing the core balance of power, as an aggressive executive confronts Congress and the courts in ways that protest organizers warn are a slide toward authoritarianism.
In Washington, Iraq War Marine veteran Shawn Howard said he had never participated in a protest before but was motivated to show up because of what he sees as the Trump administration’s “disregard for the law.” He said immigration detentions without due process and deployments of troops in U.S. cities are “un-American” and alarming signs of eroding democracy.
“I fought for freedom and against this kind of extremism abroad,” said Howard, who added that he also worked at the CIA for 20 years on counter-extremism operations. “And now I see a moment in America where we have extremists everywhere who are, in my opinion, pushing us to some kind of civil conflict.”
Trump, meanwhile, was spending the weekend at his Mar-a-Lago home in Florida.
“They say they’re referring to me as a king. I’m not a king,” the president said in a Fox News interview that aired early Friday, before he departed for a $1 million-per-plate MAGA Inc. fundraiser at his club.
A Trump campaign social media account mocked the protests by posting a computer-generated video of the president clothed like a monarch, wearing a crown and waving from a balcony.
In San Francisco hundreds of people spelled out “No King!” and other phrases with their bodies on Ocean Beach. Hayley Wingard, who was dressed as the Statue of Liberty, said she too had never been to a protest before. Only recently she began to view Trump as a “dictator.”
“I was actually OK with everything until I found that the military invasion in Los Angeles and Chicago and Portland — Portland bothered me the most, because I’m from Portland, and I don’t want the military in my cities. That’s scary,” Wingard said.
Tens of thousands of people gathered in Portland for a peaceful demonstration downtown. Later in the day, tensions grew as a few hundred protesters and counterprotesters showed up at a U.S. Immigration and Customs enforcement building, with federal agents at times firing tear gas to disperse the crowd and city police threatening to make arrests if demonstrators blocked streets.
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