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Kimberly-Clark expected to call off European tissue sale

Nov. 17, 2018 11:03 AM ETKimberly-Clark Corporation (KMB) StockKMBBy: Clark Schultz, SA News Editor3 Comments
  • Kimberly-Clark (NYSE:KMB) is closing the door on the sale of its European tissue business after bids fell short of expectations, according to Financial Times.
  • Sources say the Brexit drama playing out in the U.K. was a factor in the low level of bids coming in from interested parties such as Centerbridge Partners and a consortium led by Goldman Sachs Capital Partners.
  • The company is expected to make a formal announcement this weekend.
  • Shares of KMB are down 7.8% YTD.

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