$49bn tie-up comes on frantic day of mergers and acquisitions across corporate America

Kenvue's shareholders will receive $3.50 per share and 0.15 Kimberly-Clark shares for each Kenvue share held.

The combined company would bring together brands like Huggies and Kleenex with the likes of Band-Aid and Tylenol.

The deal will unite two giants in the over-the-counter health business, bringing together brands like Kleenex and Benadryl.

$49bn tie-up comes on frantic day of mergers and acquisitions across corporate America

The deal has analysts puzzled, as the US maker of Tylenol has seen sales dip after the White House linked it to autism.

Kimberly-Clark CEO Mike Hsu discussed his company's $48.7 billion acquisition of Kenvue in a Monday interview with CNBC's Jim Cramer.