LOEWS CORPORATION (NYSE:L) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure.
On June 29, 2018, Loews Corporation (“Loews”) issued a press release announcing that, on such date, Boardwalk GP, LP (the “General Partner”), the general partner of Boardwalk Pipeline Partners, LP (the “Partnership”) and an indirect wholly-owned subsidiary of Loews, has elected to exercise its right to Section15.1(b) of the Partnership’s Third Amended and Restated Agreement of Limited Partnership, as amended (the “Limited Partnership Agreement”) to purchase all of the issued and outstanding common units representing limited partner interests in the Partnership not already owned by the General Partner or its affiliates for a cash purchase price, determined in accordance with the Limited Partnership Agreement, of $12.06 per unit, or approximately $1.50 billion in the aggregate. The General Partner received the opinion of counsel required by Section 15.1(b) of the Limited Partnership Agreement on June 29, 2018. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
The information under this Item 7.01 and in Exhibit 99.1 in this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information under this Item 7.01 and in Exhibit 99.1 in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document to the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| ExhibitNo. | |
| 99.1 | Loews Corporation Press Release, issued June 29, 2018. |
LOEWS CORP ExhibitEX-99.1 2 dp92545_ex9901.htm EXHIBIT 99.1 Exhibit 99.1 LOEWS Reports Exercise of Right to Purchase Common Units OF BOARDWALK PIPELINE PARTNERS NEW YORK,…To view the full exhibit click here
About LOEWS CORPORATION (NYSE:L)
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas, and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling, Inc. (Diamond Offshore); Boardwalk Pipeline Partners, LP (Boardwalk Pipeline), and Loews Hotels Holding Corporation (Loews Hotels). CNA’s insurance products include commercial property and casualty coverages, including surety. CNA’s services include risk management, information services, warranty and claims administration. Diamond Offshore is engaged, through its subsidiaries, in the business of operating drilling rigs that are chartered on a contract basis for fixed terms by companies engaged in the exploration and production of hydrocarbons.