Nordstrom to Be Taken Private By Founding Family and El Puerto de Liverpool
Published On Dec 23, 2024, 10:33 AM
Nordstrom, a renowned department store chain, is set to go private as its founding family partners with Mexican retailer El Puerto de Liverpool for a buyout valued at $6.25 billion. Shareholders will receive $24.25 per share, about 42% higher than its previous market price. The deal comes amid challenges in the retail sector, with Nordstrom having shown resilience compared to competitors, partly due to its upscale clientele and strong sales performance.
Stock Forecasts
JWN
Positive
The acquisition indicates confidence in Nordstrom's business stability and future potential. With a significant premium over recent stock prices and positive sales growth, this might attract interest from investors looking for stable retail investments.
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Sep 6, 2024, 11:26 AM
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