American Greetings Corporation (NYSE: AM) today announced that it is delaying its plans to develop a new world headquarters facility in Westlake, Ohio.
The Company's board of directors believes it is advisable to temporarily delay the project in light of the proposal from Zev Weiss, company CEO, Jeffrey Weiss, president and COO, and other members of the Weiss family to take the Company private.
American Greetings still intends to develop its new world headquarters in the Crocker Park development located in the City of Westlake. American Greetings believes that the delay will be short and will have no material adverse impact on the Company.
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