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Loews to Spin Off Lorillard Tobacco 

As to why the company has now chosen to separate itself from Lorillard, David Adelman, who follows the company for Morgan Stanley, said, "Loews is less dependent on Lorillard than it had been and it has already gotten significant value out of the business."

And Mr. Bornstein of Omega added, "It is not a pleasant business to be in."

"They may be thinking that they would be better off in other business," he said. "They are not going to do it at a terrible price, but if you have a choice of being in the cigarette business or another business, from a socially responsible perspective, within a range of values, you might pick something else."

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It is not a pleasant business to be in. . . . if you have a choice of being in the cigarette business or another business, from a socially responsible perspective, within a range of values, you might pick something else.
Ben Bornstein, an analyst at Omega Advisors, which owns about 1.9 million shares of Loews, on the plan to divest in Lorillard.