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[$$] Loews Dangles Buyout of MLP, Angers Investors

Loews , a successful conglomerate nurtured by the Tisch family, has a reputation for being friendly to shareholders. “The limited unit holders are absolutely being robbed,” says Tom Feiman, a longtime investor in Boardwalk Pipeline Partners (BWP), which went public in 2005 at $19.50 a unit. Loews, which owns some 51% of Boardwalk, declined to comment.