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CORRECTED-American Greetings receives $580 mln offer from CEO
September 26, 2012 / 1:46 PM / 5 years ago

CORRECTED-American Greetings receives $580 mln offer from CEO

(Corrects offer value in headline and paragraph one)

Sept 26 (Reuters) - American Greetings Corp said it received a go-private offer from a group led by its chief executive, valuing the company at about $580 million.

The offer of $17.18 per share represents a premium of nearly 20 percent to the stock’s Tuesday close of $14.34.

The company, whose brands include American Greetings, Carlton Cards and Gibson, said it will form a special committee of independent directors to consider the proposal. (Reporting by Chris Jonathan Peters in Bangalore; Editing by Saumyadeb Chakrabarty)

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