On June $20,2011,$ the Company $...$ finalized the Company$’$s acquisition from Unilever of the Sanex personal care business $...$ for an aggregate purchase price of $$966....$ This strategic acquisition is expected to strengthen Colgate$’$s personal care business in Europe, primarily in the liquid body cleansing and deodorants business. Total purchase price consideration of $$966$ has been allocated to the net assets acquired based on their respective fair values at June $20,2011....$

Colgate$-$Palmolive acquired $100$ percent of the fair value of the net assets of Sanex for $$966$ million in cash. Assume that Sanex$’$s assets $($not detailed$)$ at the time of the acquisition had a book value of $$480$ million and a fair value of $$625$ million. Colgate$-$Palmolive also assumed Sanex$’$s liabilities of $$70$ million $($book value and fair value of the liabilities are the same, not detailed$).$