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Kimberly-Clark buying Tylenol maker Kenvue in $48.7 billion deal
Court Watch |
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
Legal Interview |
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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Kamala Harris leaves door open for 2028 presidential run
Headline Legal News |
2025/10/25 17:11
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Kamala Harris isn’t ruling out another run for the White House.
In an interview with the BBC posted Saturday, Harris said she expects a woman will be president in the coming years, and it could “possibly” be her.
“I am not done,” she said.
The former vice-president said she hasn’t decided whether to mount a 2028 presidential campaign. But she dismissed the suggestion that she’d face long odds.
“I have lived my entire career a life of service and it’s in my bones. And there are many ways to serve,” she said. “I’ve never listened to polls.”
She’s recently given a series of interviews following the September release of her book, “107 Days.” It looks back on her experience replacing then-President Joe Biden as the 2024 Democratic presidential nominee after he dropped out of the race.
She ultimately lost to Republican President Donald Trump.
In an interview with The Associated Press last week, Harris, 60, also made clear that running again in 2028 is still on the table. She said she sees herself as a leader of the party, including in pushing back against Trump and preparing for the 2026 midterms.
Asked in an Oct. 17 interview with AP whether she had plans for a 2028 bid, Harris said, “I haven’t decided. Sincerely. I have not decided. I may or I may not. I have not decided.”
Asked specifically whether she still wanted to do the job itself, she used the past tense, saying, “It’s a job I wanted to do.” But she noted that the only way to do it “is to run” and win.
Meanwhile, political jockeying among Democrats for the 2028 presidential contest appears to be playing out even earlier than usual.
Several potential candidates are already taking steps to get to know voters in key states, including California Gov. Gavin Newsom, term-limited Kentucky Gov. Andy Beshear and California Rep. Ro Khanna. Upwards of 30 high-profile Democrats could ultimately enter the primary.
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‘No Kings’ protests against Trump bring a street party vibe to cities
Headline Legal News |
2025/10/20 16:41
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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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Luigi Mangione’s lawyers seek dismissal of federal charges in assassination
Court Watch |
2025/10/15 08:40
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Lawyers for Luigi Mangione asked a New York federal judge Saturday to dismiss some criminal charges, including the only count for which he could face the death penalty, from a federal indictment brought against him in the December assassination of UnitedHealthcare’s chief executive.
In papers filed in Manhattan federal court, the lawyers said prosecutors should also be prevented from using at trial his statements to law enforcement officers and his backpack where a gun and ammunition were found.
They said Mangione was not read his rights before he was questioned by law enforcement officers, who arrested him after Brian Thompson was fatally shot as he arrived at a Manhattan hotel for an investor conference.
They added that officers did not obtain a warrant before searching Mangione’s backpack.
Mangione, 27, has pleaded not guilty to state and federal charges in the fatal shooting of Brian Thompson on Dec. 4 as he arrived at a Manhattan hotel for his company’s annual investor conference.
The killing set off a multi-state search after the suspected shooter slipped away from the scene and rode a bike to Central Park, before taking a taxi to a bus depot that offers service to several nearby states.
Five days later, a tip from a McDonald’s about 233 miles (375 kilometers) away in Altoona, Pennsylvania, led police to arrest Mangione. He has been held without bail since then.
In their submission, defense lawyers provided a minute-by-minute description of how police officers apprehended a cooperative Mangione, including a photograph from a police body-worn camera of the suspect initially sitting alone at a table with a white mask covering nearly all of his face.
They said Mangione was first approached by two “fully armed” police officers when one of them “told Mr. Mangione that someone had called the police because they thought he was suspicious” after he’d been there about 40 minutes.
When the officers asked to see his identification, Mangione turned over a New Jersey driver’s license with someone else’s name, according to the filing.
As Mangione prepared to eat his food, the officers asked him to stand up with his hands atop his head so they could frisk him, the lawyers wrote.
Soon afterward, one of the officers went outside to summon more officers, telling a colleague he was “100 percent” convinced that Mangione was the suspect they were looking for, the lawyers said. Within minutes, nearly a half dozen additional officer arrived.
Last month, lawyers for Mangione asked that his federal charges be dismissed and the death penalty be taken off the table as a result of public comments by U.S. Attorney General Pam Bondi. In April, Bondi directed prosecutors in New York to seek the death penalty, calling the killing of Thompson a “premeditated, cold-blooded assassination that shocked America.”
Murder cases are usually tried in state courts, but prosecutors have also charged Mangione under a federal law on murders committed with firearms as part of other “crimes of violence.” It’s the only charge for which Mangione could face the death penalty, since it’s not used in New York state.
The papers filed early Saturday morning argued that this charge should be dismissed because prosecutors have failed to identify the other offenses that would be required to convict him, saying that the alleged other crime — stalking — is not a crime of violence.
The assassination and its aftermath have captured the American imagination, setting off a cascade of resentment and online vitriol toward U.S. health insurers while rattling corporate executives concerned about security.
After the killing, investigators found the words “delay,” “deny” and “depose,” written in permanent marker on ammunition at the scene. The words mimic a phrase used by insurance industry critics. |
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