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What will be Nordstrom Inc.'s stock price at the end of 2024?
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Stock price data from financial market sources like NASDAQ or Bloomberg
Story
Nordstrom Family Proposes $3.76 Billion Buyout at $23 Per Share to Take Company Private
Sep 4, 2024, 02:35 PM
The Nordstrom family, in collaboration with the Mexican retail group El Puerto de Liverpool, has proposed a buyout to take Nordstrom Inc. private at $23 per share in cash. The offer values the century-old department store chain at approximately $3.76 billion. The proposal, which is non-binding, has been submitted to a special committee for review. The Nordstrom family, which owns around 33.4% of the company's outstanding shares, cited strategic reasons and the health of their father, Bruce Nordstrom, as motivations for the buyout. The offer includes a combination of rollover equity, cash, and $250 million in new bank financing. Anne E. Gittinger, who holds a 9.4% stake in Nordstrom, is also involved in the discussions.
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