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CNA Financial (CNA): Investing with the Tisch family

January 25, 2010 | About:

Rating: 3.7/5 (7 votes)


Hschacht - 6 years ago
Why not just buy Loews... and get CNA at a discount?
Blogging About Money
Blogging About Money - 6 years ago

I agree with Hschacht:

Loews owns 90% according to your article, which would be $5.4b of Loews market cap. They also own 50% of Diamond Offshore, which is another 6.7b of their market cap, and 74% of Boardwalk Pipeline Partners, which equals $4.4b of their market cap. This means you're buying the rest of Loews for negative $1b, which makes absolutely no sense for this asset rich company.

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