American Greetings to acquire PhotoWorks for $26.5 mln
Nov 28 (Reuters) - Greeting card maker American Greetings Corp (AM.N: Quote, Profile, Research, Stock Buzz) will acquire PhotoWorks Inc PHTW.OB, through its unit, for about $26.5 million, the companies said.
American Greetings will make a cash tender offer to acquire all outstanding common shares of PhotoWorks at a price of 59.5 cents a share.
The deal is expected to have a minimal impact to fiscal 2008 earnings, American Greetings said in a statement. (Reporting by Shailesh Kuber in Bangalore, Editing by Dinesh Nair)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Sphere
Obama in UK
Obama skips wounded troop visit