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Colgate to Buy Mennen for $670 Million: Colgate-Palmolive Co. emerged as the victor in a hot contest to control Mennen Co., sealing a deal to buy the nation’s leading deodorant firm for stock and cash. Mennen, owned by the Mennen family, commands the top spot in the $1.7-billion U.S. deodorant market with its Mennen Speed Stick line of products. It also sells toiletries under the brand names Baby Magic, Mennen Skin Bracer and Afta. The Mennen family will receive about 7.5% of Colgate’s common stock outstanding, or 11 million shares, representing 80% of the purchase price. The remaining 20% will take the form of cash. Colgate shares fell 62.5 cents to $46.75 on the New York Stock Exchange.