Official press release from Nordstrom or Liverpool confirming deal closure

Nordstrom to Go Private at $24.25/Share, a 42% Premium, in $6.25B Deal with Family, Liverpool

Dec 23, 2024, 02:31 PM

Nordstrom Inc., the century-old department store chain, has agreed to be acquired and taken private by its founding family and Mexican retail conglomerate El Puerto de Liverpool in an all-cash transaction valued at approximately $6.25 billion, including debt. Shareholders will receive $24.25 per share in cash—a 42% premium over the company's recent stock price—and a special $0.25 dividend. Liverpool is investing $1.712 billion to acquire a 49% stake, while the Nordstrom family will hold majority control. The Nordstrom board of directors unanimously approved the deal, with Erik and Pete Nordstrom recusing themselves from the vote. The family believes the company will be more successful without the scrutiny of the public markets.