Loews.com is an American holding company with close to 77 Billion USD in assets. Its subsidiary assets include:CNA Financial Corporation(89% owned), Lorillard, Inc(100% owned), Boardwalk Pipeline Partners, LP(75% owned), Diamond Offshore Drilling, Inc.(51% owned), Loews Hotels(100% owned). All companies owned by Loews have two things in common, they all have significant cash flow and Loews has a controlling interest in them.
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Loews Corporation is a holding company run by the Tisch Family whose subsidiaries are engaged in the following lines of business:
- property and casualty insurance (CNA Financial Corporation, a 90%-owned subsidiary)
- the operation of hotels (Loews Hotels, a wholly owned subsidiary)
- the operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling, Inc., a 54%-owned subsidiary)
- the operation of an interstate natural gas transmission pipeline system (Texas Gas Transmission, LLC, a wholly owned subsidiary) and
- the distribution and sale of watches and clocks (Bulova Corporation, a 97%-owned subsidiary).
On May 10, 2006 Loews Corporation announced that it would offer 15 million shares of Carolina Group via a public offering, with the proceeds to be used for general corporate purposes. The sale's value was $740 million.
On June 4, 2007 Loews Corporation announced it would acquire a portion of Dominion Resource's operations for 4.03 billion dollars.
On December 17, 2007, Loews Corporation announced a plan to spin off its entire ownership interest in its subsidiary, Lorillard, Inc., to holders of Carolina Group stock and Loews common stock.
Outside of Loews, the estate of chairman Bob Tisch co-owns the New York Giants football team. Loews has in the past had extensive involvement with the CBS network.
REF: Wikipedia
