BUSINESS MEMO: P&G, TAMBRANDS AGREEMENT

Procter & Gamble Co. has reached an agreement to buy the maker of Tampax for nearly $2 billion.

The $1.85 billion deal for Tambrands Inc., the biggest acquisition ever for the consumer-products giant, was confirmed last week by P&G spokeswoman Elaine Plummer.

Tambrands, based in White Plains, N.Y., will no longer exist as an independent company after about 60 years in business. Tampax tampons are its only product.

The acquisition gives P&G the No. 1 Tampon brand and solidifies its position as the leading company in feminine protection.