The Big Number: $3.8 Billion
Published On Sep 6, 2024, 11:26 AM
Nordstrom's founding family has made a $3.8 billion bid to take the company private at $23 per share. This follows the retailer's recent report of strong second-quarter earnings, despite past difficulties with a 27% decrease in shares over the last five years. Nordstrom's performance has been affected by changing consumer spending patterns, worsened by high inflation. Notably, the bid price offers almost no premium over the stock's recent closing price, which raises questions about its attractiveness.
Stock Forecasts
JWN
Negative
Given the lack of premium in the buyout offer, investors may view this as a sign of Nordstrom's current struggles amidst retail challenges. However, the family-driven acquisition could stabilize the company in the long term, potentially resulting in a rebound if they successfully execute a revitalization strategy.
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The Big Number: $3.8 Billion
Sep 6, 2024, 11:26 AM
The amount offered by Nordstrom’s founding family to buy its namesake retailer.
The Big Number: $3.8 Billion
Sep 6, 2024, 11:26 AM
The amount offered by Nordstrom’s founding family to buy its namesake retailer.
Nordstrom Family Offers $3.8 Billion to Buy Its Namesake Retailer
Sep 4, 2024, 12:06 PM
The $23-per-share offer by the department store’s founding family comes as retailers struggle to navigate new shopping trends and costly real estate.