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Transaction Would Exchange Carolina Group Tracking Stock for Shares of Lorillard
Jump to full article: Business Wire, 2007-12-17
Intro: Loews Corporation (NYSE:LTR; CG) today announced that its Board of Directors has approved a plan to spin off its entire ownership interest in Lorillard, Inc. to holders of its Carolina Group stock and Loews common stock in a tax free transaction. As a result of the transaction, Lorillard, presently a wholly owned subsidiary of Loews, would become a separate publicly traded company.
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