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Nordstrom shareholders to see $24.25/share in private buyout
Nordstrom, the iconic American department store chain, has announced its plans to transition into a private company.
Source: www.unsplash.com
This follows an agreement on a $6.25bn buyout deal involving Nordstrom’s founding family and El Puerto de Liverpool, a prominent Mexican retailer.
The company’s board of directors unanimously approved the transaction, which is slated to close in the first half of 2025. Under the agreement, the Nordstrom family will retain majority ownership at 50.1%, while Liverpool will hold a 49.9% stake. Shareholders of Nordstrom’s common stock will receive $24.25 in cash per share, according to the company’s press release.
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