Reports: Weiss family takes American Greetings back to private

NEW YORK — The family that runs American Greetings card company is taking the company back to private, according to published reports.

The New York Times reported today that American Greetings is no longer trading on the New York Stock Exchange. The family that has run the business for more than a century, along with several investors, is said to acquire the Cleveland-based company in April.

The Times reported the acquisition deal is reported to be valued at $580 million, or $878 million after including assumed debt and stock option settlements. The deal closed on Friday.

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