Key Developments: Lorillard Inc (LO)

LO on New York Consolidated

61.01USD
24 Oct 2014
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Latest Key Developments (Source: Significant Developments)

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

Lorillard Inc Announces Quarterly Dividend on Common Stock
Friday, 16 Aug 2013 09:00am EDT 

Lorillard Inc announced the declaration of a quarterly dividend on its common stock in the amount of $0.55 per share, payable on September 10, 2013 to stockholders of record as of August 30, 2013.  Full Article

Lorillard Inc Receives FDA Market Authorization for New Products
Tuesday, 25 Jun 2013 03:17pm EDT 

Lorillard Inc announced that is has received notification from the U.S. Food and Drug Administration (FDA) that its Newport Non-Menthol Gold Box and Box 100 products have been found to be substantially equivalent to tobacco products previously commercially marketed in interstate commerce in the U.S. The FDA's finding permits Lorillard to begin marketing of the new products, consistent with all existing requirements of regulated tobacco products.  Full Article

Lorillard Inc Announces Increase In Stock Repurchase Program
Tuesday, 21 May 2013 04:10pm EDT 

Lorillard Inc announced that its Board of Directors amended the Company's existing $500 million share repurchase program to authorize an additional $500 million in repurchases, authorizing the Company to repurchase in the aggregate up to $1.0 billion of its outstanding common stock. The original $500 million share repurchase program was announced on March 8, 2013. Purchases by the Company under this program may be made from time to time at prevailing market prices in open market purchases, privately negotiated transactions, block purchase techniques or otherwise, as determined by the Company's management.  Full Article

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As Big Tobacco takes up e-cigarettes, investors look ahead

LONDON/NEW YORK - As electronic cigarettes flew off shelves on both sides of the Atlantic in recent years, investors flocked to a business some hope will be the future for tobacco.

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