Nordstrom Announces It Will Go Private As Namesake Family Retakes Control Of $6.25 Billion Retailer

Category: Business

Nordstrom will go private after a transaction giving the Nordstrom family a controlling 50.1% stake, alongside Mexican retail chain El Puerto de Liverpool, which will hold 49.9%. The deal values Nordstrom at $6.25 billion and offers shareholders $24.25 per share, a 42% premium. The company, founded in 1901, has faced stagnating growth and declining stock performance over the past decade.

Keywords: Nordstrom, private equity, retail acquisition

Source: Forbes

Update At: 12/24/2024

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