Reported 2 days ago
The Nordstrom family, partnering with Mexican retailer El Puerto de Liverpool SAB, plans to take the department store chain Nordstrom private in a $6.25 billion cash deal, including debt. This decision follows a significant decline in Nordstrom's stock value over the past five years. With the deal, common shareholders will receive $24.25 per share, while the family will hold a 50.1% majority stake. The transaction is expected to close in the first half of 2025, aiming to revitalize the company's growth as it has struggled post-pandemic.
Source: YAHOO