Nordstrom Family and Liverpool Propose $23/Share Buyout, Gittinger Holds 9.4% Stake

Sep 4, 2024, 12:39 PM

The Nordstrom family has proposed a buyout to take Nordstrom Inc. private at $23 per share in cash. The offer, announced on Wednesday, includes collaboration with Mexico's El Puerto de Liverpool and aims to address strategic reasons and the health of Bruce Nordstrom. Anne E. Gittinger reported a 9.4% stake in Nordstrom as of September 3. The proposal is non-binding and subject to further negotiations with the Special Committee. Nordstrom's stock responded with a decline, trading at $22.15 following the announcement.