Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



American Greetings Buyout Price Raised

The price to take American Greetings (UNKNOWN: AM.DL2  ) private is increasing. The Weiss family, key shareholders and top managers of the company, have lifted their bid to $19.00 from the former $18.20.

The Weisses -- which include company Chairman Morry, CEO Zev, and COO Jeffrey -- plus "related persons and entities" have been attempting to buy out fellow shareholders since last September. The previous $18.20 bid was met with resistance by shareholder TowerView, an investment fund that owns slightly over 6% of the company. TowerView said it would vote against a buyout at that price.

In the press release announcing the sweetened bid, American Greetings pointed out that the $19.00 price tag is 32.5% higher than the stock's value when the group made its first bid last September. It also took pains to mention that it is 4.4% above the Weisses' former $18.20 bid.

At the moment, American Greetings trades at $18.96 per share. It has nearly 32 million shares outstanding.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2523098, ~/Articles/ArticleHandler.aspx, 9/26/2016 5:24:18 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 days ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/9/2013 10:16 AM
AM.DL2 $0.00 Down +0.00 +0.00%
American Greetings CAPS Rating: **