SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 1)
LOEWS CORP
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
540424207
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(CUSIP Number)
May 31, 2006
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(Date Of Event which Requires Filing of this Statement)
Check the following box if a fee is being paid with this statement [].
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*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 540424207 13G Page 2 of 8 Pages
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley
IRS # 36-314-5972
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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NUMBER OF 5. SOLE VOTING POWER
SHARES 3,152,942
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 46,520
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 3,152,942
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8. SHARED DISPOSITIVE POWER
46,520
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,428,284
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.7%
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12. TYPE OF REPORTING PERSON*
CO, HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 540424207 13G Page 3 of 8 Pages
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley & Co. International Limited
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom
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NUMBER OF 5. SOLE VOTING POWER
SHARES 118,805
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 118,805
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8. SHARED DISPOSITIVE POWER
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
279,972
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.3%
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12. TYPE OF REPORTING PERSON*
BD, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 540424207 13G Page 4 of 8 Pages
Item 1. (a) Name of Issuer:
LOEWS CORP
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(b) Address of Issuer's Principal Executive Offices:
667 MADISON AVE
NEW YORK, NY 10021-8087
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Item 2. (a) Name of Person Filing:
(a) Morgan Stanley
(b) Morgan Stanley & Co. International Limited
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(b) Address of Principal Business Office, or if None, Residence:
(a) 1585 Broadway
New York, NY 10036
(b) 25 Cabot Square
Canary Wharf, London E14 4QA, England
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(c) Citizenship:
Incorporated by reference to Item 4 of the
cover page pertaining to each reporting person.
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(d) Title of Class of Securities:
Common Stock
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(e) CUSIP Number:
540424207
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Item 3. (a) Morgan Stanley is a parent holding company.
(b) Morgan Stanley & Co. International Limited is a Broker-Dealer
doing business under the laws of the United Kingdom.
Morgan Stanley & Co. International Limited is filing this
statement pursuant to Rules 13d-1(b) and 13d-2(b), relying on
such rules and using Schedule 13G in accordance with no-action
assurances from the Division of Corporate Finance, Office of
Tender Offers.
CUSIP No. 540424207 13-G Page 5 of 8 Pages
Item 4. Ownership.
Incorporated by reference to Items (5) - (9) and (11) of the
cover page.
(a) Morgan Stanley is filing solely in its capacity as the
parent company of, and indirect beneficial owner of
securities held by, one of its business units.
Item 5. Ownership of Five Percent or Less of a Class.
(a) As of the date hereof, Morgan Stanley has ceased to be the
beneficial owner of more than five percent of the class of
securities.
(b) As of the date hereof, Morgan Stanley & Co. International
Limited has ceased to be the beneficial owner of more than
five percent of the class of securities.
See item 4(a)
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Inapplicable
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Item 8. Identification and Classification of Members of the Group.
Item 9. Notice of Dissolution of Group.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purpose or effect.
CUSIP No. 540424207 13-G Page 6 of 8 Pages
Signature.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: June 12, 2006
Signature: /s/ Dennine Bullard
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Name/Title Dennine Bullard/Executive Director, Morgan Stanley & Co.
Incorporated
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MORGAN STANLEY
Date: June 12, 2006
Signature: /s/ Derek Bandeen
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Name/Title Derek Bandeen/Managing Director, Morgan Stanley & Co. International
Limited
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MORGAN STANLEY & CO. INTERNATIONAL LIMITED
INDEX TO EXHIBITS PAGE
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EXHIBIT 1 Agreement to make a joint filing 7
EXHIBIT 2 Secretary's Certificate Authorizing Dennine Bullard 8
to Sign on behalf of Morgan Stanley
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
EX-99
JOINT FILING AGREEMENT
CUSIP No. 540424207 13-G Page 7 of 8 Pages
EXHIBIT 1 TO SCHEDULE 13G
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JUNE 12, 2006
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MORGAN STANLEY and MORGAN STANLEY & CO. INTERNATIONAL LIMITED,
hereby agree that, unless differentiated, this Schedule 13G
is filed on behalf of each of the parties.
MORGAN STANLEY
BY: /s/ Dennine Bullard
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Dennine Bullard/Executive Director, Morgan Stanley & Co. Incorporated
MORGAN STANLEY & CO. INTERNATIONAL LIMITED
BY: /s/ Derek Bandeen
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Derek Bandeen/Managing Director, Morgan Stanley & Co. International
Limited
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
EX-99.b
SECRETARY'S CERTIFICATE
CUSIP No. 540424207 13-G Page 8 of 8 Pages
EXHIBIT 2
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MORGAN STANLEY
SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant Secretary
of Morgan Stanley, a corporation organized and existing under the
laws of the State of Delaware (the "Corporation"), certify as
follows:
(1) Donald G. Kempf, Jr. served as the duly elected Executive
Vice President, Chief Legal Officer and Secretary of the
Corporation from December 1, 1999 to August 26, 2005;
(2) Pursuant to Section 7.01 of the Bylaws of the Corporation
and resolutions approved by the Board of Directors of the
Corporation on September 25, 1998, the Chief Legal Officer
is authorized to enter into agreements and other instruments
on behalf of the Corporation and may delegate such powers
to others under his jurisdiction; and
(3) Donald G. Kempf signed a Delegation of Authority as of
February 23, 2000, which authorized Dennine Bullard to
sign reports to be filed under Section 13 and 16 of the
Securities Exchange Act of 1934 on behalf of the
Corporation. Such authorization is in full force and
effect as of this date.
IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal
of the Corporation as of the 23rd day of January, 2006.
______________________________
Charlene R. Herzer
Assistant Secretary