Reported 3 days ago
Nordstrom has agreed to be taken private by its founding family, alongside Mexican retailer El Puerto de Liverpool, in a deal valued at $6.25 billion, including debt. Shareholders will receive $24.25 per share, marking a significant premium. This acquisition gives the founding family, led by CEO Erik Nordstrom and President Pete Nordstrom, controlling interest in the company amidst challenging retail conditions. The deal is expected to conclude in the first half of 2025.
Source: YAHOO