Key Developments: Lorillard Inc (LO.N)

LO.N on New York Stock Exchange

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24 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Lorillard Inc enters into agreement to resolve Federal Engle Progeny cases
Wednesday, 25 Feb 2015 09:30am EST 

Lorillard Inc:Says its Lorillard Tobacco Company subsidiary, along with other cigarette manufacturers, have entered into a tentative agreement to resolve pending Engle progeny lawsuits in U.S. federal courts.Under the terms of the tentative agreement, Lorillard will not be subject to any further legal proceedings pertaining to these Engle progeny cases currently pending against the Company in the federal district courts.Federal Engle progeny cases currently in trial or previously concluded, along with Engle progeny cases pending in Florida state courts, are not part of the tentative agreement.Lorillard will pay $15 mln to resolve the federal cases and expects to record a charge in the first quarter of 2015 in connection with the agreement.  Full Article

Lorillard Inc announces seven pct increase in quarterly dividend
Thursday, 19 Feb 2015 02:15pm EST 

Lorillard Inc:Approved a 7 pct increase in the quarterly dividend on its common stock from $0.615 per share to $0.66 per share.Payable on March 10 to stockholders of record as of March 2.  Full Article

Lorillard Inc announces quarterly dividend on common stock
Tuesday, 18 Nov 2014 04:25pm EST 

Lorillard Inc:Declares quarterly dividend on common stock in amount of $0.615 per share.Dividend is payable on Dec. 10 to stockholders of record as of Dec. 1.  Full Article

Lorillard Inc's subsidiaries sue Zippo in UK to stop unfounded threats against BLU ECIGS
Wednesday, 3 Sep 2014 04:15pm EDT 

Lorillard Inc:Says that two of its electronic cigarette subsidiary companies, Cygnet UK Trading Limited (Cygnet) and Lorillard Technologies, Inc. d/b/a blu eCigs (collectively Lorillard), have filed for injunction and declarations with High Court of Justice in London, England.To protect their BLU ECIGS trademarks in United Kingdom (UK) and throughout rest of Europe.Injunction seeks to restrain Zippo Manufacturing Company (Zippo).From threatening Lorillard and others with proceedings in UK for alleged infringements of Zippo's trademarks and declarations seek to validate Lorillard's rights to market and sell their products throughout Europe under BLU ECIGS brands.Lorillard does not anticipate a Court ruling from the filing until late 2015 and expects to conduct BLU ECIGS electronic cigarette business as usual into future.  Full Article

Lorillard Inc announces quarterly dividend on common stock
Friday, 15 Aug 2014 08:00am EDT 

Lorillard Inc:Says declaration of quarterly dividend on its common stock in amount of $0.615 per share.Says dividend is payable on Sept. 10 to stockholders of record as of Sept. 1.  Full Article

Reynolds American Inc to acquire Lorillard in transaction valued at $27.4 bln and reaches agreement with Imperial
Tuesday, 15 Jul 2014 07:00am EDT 

Reynolds American Inc and Lorillard, Inc:RAI has agreed to acquire Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share, or a total of $27.4 bln, including the assumption of net debt.Lorillard shareholders will receive, for each Lorillard share, $50.50 in cash and 0.2909 of a share in RAI stock at closing.RAI also reached an agreement with Imperial, under which Imperial has agreed to purchase the KOOL, Salem, Winston, Maverick and blu eCigs brands and other assets and liabilities for a total consideration of $7.1 bln in cash.RAI expects to receive net cash proceeds of about $4.4 bln after taxes.As part of the divestiture, Imperial will acquire certain assets owned by Lorillard including its manufacturing and R&D facilities in Greensboro, N.C., and about 2,900 employees, including a national sales force.Lazard is lead financial advisor to RAI and J.P. Morgan Securities LLC is financial advisor.RAI's legal advisor is Jones Day.Lorillard's financial advisors are Centerview Partners and Barclays and its legal advisor is Simpson Thacher & Bartlett.  Full Article

Lorillard Inc announces quarterly dividend on common stock
Thursday, 15 May 2014 03:00pm EDT 

Lorillard Inc:Declares quarterly dividend on its common stock in amount of $0.615 per share.Payable on June 10, 2014 to stockholders of record as of May 30, 2014.  Full Article

Lorillard Inc responds to proposed FDA deeming regulations for electronic cigarettes
Thursday, 24 Apr 2014 11:30am EDT 

Lorillard Inc:Responded to proposed regulations published on April 24 by the USFDA regarding the electronic cigarette industry.Lorillard has long-supported reasonable science-based regulation of electronic cigarettes such as establishing minimum age-of-purchase requirements, setting product quality and safety standards, and listing of ingredients and other relevant consumer information.  Full Article

Lorillard Inc announces 12 percent increase in quarterly dividend
Thursday, 20 Feb 2014 04:10pm EST 

Lorillard Inc:Approves a 12 pct increase in the quarterly dividend on its common stock from $0.55 per share to $0.615 per share.The dividend is payable on March 10 to stockholders of record as of Feb. 28.  Full Article

Lorillard Inc Announces Quarterly Dividend On Common Stock
Thursday, 14 Nov 2013 04:05pm EST 

Lorillard, Inc announced that the declaration of a quarterly dividend on its common stock in the amount of $0.55 per share, payable on December 10, 2013 to stockholders of record as of November 29, 2013.  Full Article

FTC considers settlement terms for Reynolds American-Lorillard merger: WSJ

WASHINGTON - The U.S. Federal Trade Commission is considering possible settlement terms to allow Reynolds American to proceed with its $25 billion acquisition of rival tobacco company Lorillard, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

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