Nordstrom family secures $6.25 billion deal to take company private

Category: Business

The Nordstrom family, in partnership with Mexican retailer El Puerto de Liverpool, has agreed to acquire the US department store chain Nordstrom for $6.25 billion, with shares priced at $24.25. The deal is expected to close in the first half of 2025, pending regulatory approvals. This marks the second attempt by the Nordstrom family to take the company private, following a rejected bid seven years ago. The acquisition aims to allow Nordstrom to realign its strategy amidst a challenging retail landscape.

Keywords: Nordstrom, acquisition, retail

Source: Vogue Business

Update At: 12/24/2024

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