Kimberly-Clark is buying Kenvue, the maker of Tylenol, after months of controversy around whether the medicine is linked to autism.

Kimberly-Clark’s $40 billion deal for Kenvue, the embattled maker of Tylenol and other consumer products, seemingly flies in the face of two M.&A. maxims: skirt uncertainty whenever possible, and avo...

The deal will bring together brands including Neutrogena, Huggies and Kleenex under a consumer health and personal care company with expected combined annual revenues of roughly $32 billion.