American Greetings Corp. Chief Executive Officer Zev Weiss and his brothers raised their offer for the greeting-card maker for the third time after the stock rose above their previous bid and an investor opposed the deal.

The group, including Chairman Morry Weiss and Chief Operating Officer Jeffrey Weiss, increased the offer 4.4 percent to $19 a share in cash from $18.20 in April, according to a filing today. The new bid values the company at $551 million.

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