The department store chain Nordstrom will become a private company after accepting a buyout offer from the Nordstrom family and Mexican retailer El Puerto de Liverpool.
Nordstrom will become a private company after it agreed to a buyout deal valued at $6.25 billion from Nordstrom 's founding family and Mexican retailer El Puerto de Liverpool. Common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold, according to a press release. In September, the Nordstrom family offered $23 a share for the chain, which valued the company at roughly $3.76 billion.
it will become a private company after it agreed to a buyout deal valued at roughly $6.25 billion from Nordstrom's founding family and Mexican department store El Puerto de Liverpool.The company's board of directors unanimously approved of the transaction, which is expected to close in the first half of 2025. As part of the deal, the Nordstrom family will have majority ownership in the company, with 50.1%, and Liverpool will own 49.9%. Common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold, according to a press release.'For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best,' Nordstrom CEO Erik Nordstrom said in a press release.'Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future.'sales expectations in November for the third quarter, as revenue grew about 4% year over year. But the company gave only a slightly rosier full-year sales forecast as it said it expected a soft holiday season.have reported that customers remain choosy when it comes to buying items that are wants, not needs, and have paid more attention to price. Nordstrom was founded as a shoe store in 1901 before transitioning into a department store that sells a wide variety of clothing and accessories across more than 350 Nordstrom, Nordstrom Local and Nordstrom Rack location
BUYOUT RETAIL NORDSTROM DEPARTMENT STORE PRIVATE COMPANY
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Nordstrom to Go Private in $6.25 Billion Buyout DealNordstrom will become a private company after agreeing to a buyout valued at $6.25 billion. The deal is led by Nordstrom's founding family and Mexican retailer El Puerto de Liverpool. Common shareholders will receive $24.25 per share. The transaction is expected to close in the first half of 2025, with the Nordstrom family holding a majority stake of 50.1% and Liverpool owning 49.9%.
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