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American Greetings delisted after family that has run card maker for 100 years goes private

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(Globalpost/GlobalPost)

NEW YORK, N.Y. - The card company American Greeting is no longer trading on the New York Stock Exchange after being taken private by the family that has run the company for more than a century.

The Weiss family said it would acquire the Cleveland company in April, along with a group of investors.

The deal, which closed Friday, values the company at about $580 million, or $878 million including assumed debt and the settlement of stock options.

Chief Operating Officer Jeff Weiss says the family is excited to return the company to its roots as a family-owned business.

http://www.globalpost.com/dispatch/news/the-canadian-press/130809/american-greetings-delisted-after-family-has-run-card-maker-