American Greetings Sold to Weiss Family

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CLEVELAND, Ohio — American Greetings is going private.

In a deal worth $878 million, the greeting card company has been sold to the Weiss Family.

If the deal to go private is approved by the board, they will pay non-family shareholders $18.20 a share in cash plus a dividend of 15 cents a share.

American Greetings has been a public company since 1969.

Currently, the Weiss family control 50 percent of the company’s voting shares.

The company previously announced plans to build a world headquarters at Crocker Park in Westlake.