Kimberly-Clark Corp., Dallas, and Scott Paper Co., Boca Raton, Fla., said Monday they have signed a definitive merger agreement. The combined company, with $11 billion in revenues, will operate under the Kimberly-Clark name. It will be the second largest household and personal-care products company in the U.S. and the world's leading tissue manufacturer, the companies said. Scott shareholders will receive 0.765 shares of Kimberly-Clark common stock for each share of Scott common stock for a total value of $6.8 billion at the closing price on July 14. Major Kimberly-Clark agencies are Foote, Cone & Belding and Ogilvy & Mather, both Chicago, and Campbell Mithun
Esty, Minneapolis. Scott uses Bozell, New York.
Copyright July 1995 Crain Communications Inc.