Kimberly-Clark falls after agreeing to buy Kenvue in $48.7 billion deal

Shares of Kleenex tissue maker Kimberly-Clark down about 17% at $99.61 premarket

Co to acquire Tylenol maker Kenvue KVUE.N in a deal valued at about $48.7 billion

Kenvue's stock up about 22% at $17.54

Kenvue's shareholders will receive $3.50 per share and 0.15 KMB shares for each Kenvue share held

Deal implies a per-share deal value of $21.01, or an equity value of $40.32 billion, according to Reuters calculations

Deal represents premium of about 46.3% to Kenvue's Friday's closing price of $14.37

Up to last close, KMB, KVUE down nearly 9%, 33% respectively, YTD