July 1, 2013Acquisition Agreement • July 2nd, 2013 • Weiss Zev • Greeting cards
As you are of course aware, in March of this year we reached a definitive agreement, after prolonged, arm’s-length negotiations, providing for the Weiss Family’s acquisition of American Greetings at the price of $18.20 per share. Peter J. Solomon Company, L.P., your independent financial advisor, rendered an opinion that the price was fair from a financial point of view. The agreed upon price represented a premium of 26.9% to the unaffected closing price of the Class A shares prior to our initial September 2012 proposal.
