Tobacco.org

Loews to Spin Off Lorillard Tobacco Unit 

Loews Corp., a conglomerate with interests in financial services, hotels and watches, said Monday it plans to spin off cigarette maker Lorillard Inc. as a separate publicly traded company.

The move should enable Loews to pursue growth in other areas such as energy while the cigarette maker will be able to pursue acquisitions of its own to expand in the U.S. tobacco market.

Loews shares rose 2.6 percent in midday trading.

Jump to full article »