Official announcements from Nordstrom, shareholder communications

Nordstrom Going Private at $24.25/Share in $6.25B All-Cash Deal with Family, Liverpool

Dec 23, 2024, 03:26 PM

Nordstrom has agreed to be acquired and taken private in an all-cash transaction valued at approximately $6.25 billion. The Nordstrom family is partnering with Mexican retail group El Puerto de Liverpool to purchase the company at $24.25 per share, representing a 42% premium for shareholders. The deal includes a special $0.25 dividend and will result in the Nordstrom family holding a 50.1% ownership stake, while Liverpool will hold 49.9%. The Nordstrom board of directors unanimously approved the transaction, with Erik and Pete Nordstrom recusing themselves from voting. The company believes it will be more successful without the scrutiny and demands of the public market. The transaction is expected to close in mid-2025.