Loews commences offer to stockholders for exchange of common shares for shares of Lorillard
Loews Corp. on Friday said it has commenced an offer to its stockholders for the exchange of shares of Loews common stock for shares of common stock of Lorillard Inc. held by Loews.
Lorillard Inc. will buy back up to $400 million of its outstanding common stock following a decision by the company's board of directors.