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Tuesday, July 2, 2013

Founding family raises offer to take American Greetings private, (NYSE: AM)

American Greetings Corp's founding family raised its offer to take the gift card maker private, according to a regulatory filing on Tuesday, sending the company's shares up 4 percent in premarket trading. The Weiss family raised the offer price to $19 per share from $18.20. ()

American Greetings Corporation (American Greetings) is engaged in the design, manufacture and sale of everyday and seasonal greeting cards and other social expression products. Shares of AM remained unchanged at $18.10. In the past year, the shares have traded as low as $12.53 and as high as $18.50. On average, 400541 shares of AM exchange hands on a given day and today's volume is recorded at 84600.