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American Greetings cards agrees to being taken private
CLEVELAND — American Greetings greeting card company has agreed to be taken private by a group led by some of its top executives for about $602 million, the company announced today.
The executive group was formed by the Weiss family — including chairman Morry Weiss; CEO Zev Weiss; director, president and COO Jeffrey Weiss and others — and will buy the shares of the company they don't already own for $18.20 a piece in cash. This amounts to a 13% premium to American Greetings' closing price of $16.10 last Thursday.