At least four activist investors held stakes in Kenvue (KVUE) and D.E. Shaw, one of the Tylenol-maker’s largest shareholders, stood to suffer some of the biggest losses with a stake of around 3%, people familiar with the matter told The Wall Street Journal’s Ben Dummett and Lauren Thomas. However, because of Kimberly-Clark’s (KMB) buyout offer, the activist investor is set to break even on its investment, the sources said. Toms Capital Investment Management is another big shareholder in Kenvue with a more than 3% stake and Toms plans to keep holding its Kenvue shares after Monday’s deal, some of the sources said. Other activist investors exposed to Kenvue include Starboard Value and Dan Loeb’s Third Point, the WSJ noted.
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