American Greetings Valued At $580M In CEO's Go-Private Bid

Law360, New York (September 26, 2012, 4:16 PM EDT) -- American Greetings Corp. is mulling a go-private offer by its CEO and other members of its founding family, the company said Wednesday, in a deal that values the struggling greeting card giant at $580 million.

Under the nonbinding proposal, CEO Zev Weiss, President and COO Jeffrey Weiss and some of their relatives together offered $17.18 per share. The bid would give investors roughly a 20 percent premium over Tuesday's closing price.

In a letter to the Cleveland, Ohio-based company's board, the prospective buyers said they would...
To view the full article, register now.