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Loews Cigarette Spin-Off Pleases Investors 

Loews' plan to exit the cigarette business by spinning off its Lorillard Tobacco unit pleased but did not entirely surprise investors since Loews, a diversified conglomerate which was built by the brothers Laurence and Preston Robert Tisch, and is now run by Laurence’s son James, has been divesting itself of its stake in Lorillard over the years. The Tisch family continues to control Loews.

Analysts said Monday that it was an opportune time to make the move.

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