Kimberly Clark Corp · 8-K · For 12/12/95 · EX-99.1

Filed On 12/20/95   ·   SEC File 1-00225   ·   Accession Number 950134-95-3392

Current Report   ·   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Form 8-K Dated December 12, 1995                       5     23K 
 2: EX-99.1     Press Release With Respect to the Merger               2±    11K 
 3: EX-99.2     Press Release With Respect to the Consent Decree       2±     9K 
 4: EX-99.3     Press Release With Respect to the Ec Announcement      2±     9K 
 5: EX-99.4     Press Release by Kimberly Clark Dated 12-13-95         4     21K 

EX-99.1   ·   Press Release With Respect to the Merger

EX-99.1
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                                                                    EXHIBIT 99.1

                                             P.O. Box 619100
                                                       Dallas, Texas  75261-9100
[LOGO] Kimberly-Clark Corporation                                               

--------------------------------------------------------------------------------

For Release:                                           For Further Information: 

                                                 Angie McCoy
                                                    (214) 281-1486

KIMBERLY-CLARK AND SCOTT COMPLETE $9.4 BILLION MERGER 

MERGER CREATES SECOND LARGEST U.S. HOUSEHOLD AND PERSONAL CARE PRODUCTS 
COMPANY AND WORLD'S LEADING TISSUE MANUFACTURER 

DALLAS, December 12, 1995 -- Kimberly-Clark Corporation and Scott Paper Company 
today finalized a $9.4 billion merger following overwhelming approval by        
stockholders voting at separate meetings in Dallas and Boca Raton.              

Scott shareholders will receive 0.78 of a share of newly issued       
Kimberly-Clark common stock for each share of Scott's common stock in a tax-free
exchange. As a result, the combined company will have a total of approximately  
280 million shares outstanding. The merged company, with annual sales of more   
than $12 billion, will operate under the Kimberly-Clark name and will trade on  
the New York Stock Exchange under the ticker symbol "KMB."                      

"Today, we have witnessed the birth of a much stronger Kimberly-Clark 
Corporation -- in both a financial and strategic sense," said Wayne R. Sanders, 
chairman and chief executive officer of Kimberly-Clark. "We are now one company 
with a diversified line of some of the world's best-known, most trusted brands  
including Kleenex, Scott, Cottonelle, Viva, Huggies, Kotex and Depend."         

 Mr. Sanders said: "Since the merger agreement was announced in July, we
have made excellent progress toward achieving our priorities. First, we wanted  
to be ready for business on day one as one company, and we are. Second, we      
wanted to establish from the beginning an organization that is the right size   
for the future. We now expect to exceed our initial projections for potential   
cost savings.                                                                   

    "Third, we planned to move quickly to benefit from our global scale in our
three core businesses: personal care products, consumer tissue and              
away-from-home products. This is the new platform from which we will launch our 
next stage of growth. For those who thought of Kimberly-Clark as a great diaper 
company, this merger has given us two other strong global businesses with brands
that we will now leverage around the world.                                     

     "And fourth, we wanted to maintain our intense focus on product innovation.
I'm pleased to say that consumers can expect to see a number of product-related 
announcements within the next six months."                                      

    Effective today, John F. Fort, III, Peter Harf and Gary L. Roubos, each of
whom served on Scott's board of directors, join Kimberly-Clark's board. Mr. Fort
is the former chairman, president and chief executive officer of Tyco           
International, Inc. Mr. Harf is chairman and chief executive officer of Joh. A. 
Benckiser GmbH, and Mr. Roubos is chairman of Dover Corporation.                

Kimberly-Clark, a Fortune 100 company, is a leading manufacturer of   
personal care, consumer tissue and away-from-home products. The company's       
well-known personal care brands include Huggies, Pull-Ups, Goodnites, Kotex, New
Freedom, Poise and Depend. Consumer tissue products are marketed under the      
famous trademarks Kleenex, Scott, Cottonelle, Viva and Job Squad.               

For industrial, hotel and institutional uses, the company makes       
away-from-home tissue and nonwoven products with such brand names as Scott,     
Surpass, Kimwipes and Wypall. Kimberly-Clark also manufactures professional     
health care products, newsprint and premium business, correspondence and        
technical papers. Worldwide, the company has operations in 32 countries and its 
products are sold in 150 countries.                                             

Dates Referenced Herein   and   Documents Incorporated By Reference

This 8-K Filing		Date		Other Filings
For The Period Ended		12/12/95		S-8 POS, S-8, 8-K/A
Filed On / Filed As Of		12/20/95		S-8
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