American Greetings Corporation announced the completion of its acquisition by the Weiss Family for $19.00 per share in cash. American Greetings' shareholders approved the transaction at a special meeting held on Aug. 7, 2013. As a result of the transaction, American Greetings' Class A common shares will be delisted from the NYSE.
"Today is a milestone in the company's history as shareholders approved the Weiss Family proposal to make American Greetings a privately held company and that transaction was closed today," CEO Zev Weiss said.
"Our family has guided the company for more than 100 years and we are excited to see American Greetings return to its roots as a family-owned business," added Jeff Weiss, president and COO.