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American Greetings' board unanimously approved the deal, which still needs shareholder approval. The company said that those that hold a majority of outstanding stock not held by the Weiss family or a board member or executives of the company or any of its subsidiaries must approve the transaction. In addition to its namesake brand, American Greetings Corp. also owns Carlton Cards, Recycled Paper Greetings and Papyrus. Shares of American Greetings rose $1.97, or 12.2 percent, to $18.07 in afternoon trading. The stock rose as high as $18.11 earlier in the session, the highest point since October 2011.
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