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CNA Sells $750 Million In Preferred Stock To Parent

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NU Online News Service, Nov. 25, 2003, 3:36 p.m. EST – CNA Financial Corp., Chicago, says it has completed previously announced plans to raise $750 million by selling participating convertible preferred stock to Loews Corp., New York.[@@]

Loews now owns the equivalent of 91% of CNA’s common stock, up from about 90% before the purchase, CNA says.