Nordstrom going private in $6.25B deal with founding family, Mexican retailer

Published On Dec 23, 2024, 11:32 AM

Nordstrom, the well-known retailer, is planning to go private in a $6.25 billion deal with its founding family and the Mexican retailer El Puerto de Liverpool. They have agreed to acquire the remaining shares at $24.25 each, representing a 42% premium from the stock price before speculation about the deal. This transaction, expected to close in the next six months, will lead to the Nordstrom family holding a 50.1% stake, making them the majority owners. This shift will mark the end of Nordstrom's status as a publicly traded company after more than 50 years.