Additional Coverage:
- Nordstrom to be acquired for $6.25 billion by Nordstrom family members, Mexican company (newsbreak.com)
Nordstrom, the renowned department store chain, is set to be acquired in a multi-billion dollar deal. The acquisition will involve the Nordstrom family and a prominent Mexican retailer, El Puerto de Liverpool.
Upon completion, Nordstrom will transition from a publicly traded company to a privately held one. The Nordstrom family will hold a majority stake, while Liverpool will maintain its existing share.
The deal values each outstanding common share of Nordstrom at $24.25, representing a premium of 42% over the unaffected closing price before speculation about the transaction. Shareholders will also receive a special dividend of up to $0.25 per share.
The Nordstrom Board of Directors unanimously approved the deal, which is expected to close in the first half of 2025. Nordstrom’s stock will cease trading on public markets once the acquisition is finalized.