Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal as the industry is being squeezed by discount chains and other competition. Public companies are under a lot more scrutiny and, if private, the Nordstroms may have more leeway in reviving a department store chain that, like others, has looked to revive lackluster sales for years. Nordstrom shareholders will receive $24.25 in cash for each share of Nordstrom common stock, or about $4 billion in all, representing a 42% premium on the company’s stock as of March 18, when reports of a potential transaction was reported by the media. The Nordstroms will also pick up more than $2 billion in debt. Rivals like Macy’s and Kohl’s have been pressured by major investors to make huge changes in order to return more profit to shareholders.
Nordstrom To Be Acquired By Family Members, Mexican Company In $6.25 Billion Deal
Matt Ott, Chicago Tribune: Business
Mon, 12/23/2024 - 10:00am
Topics: public march the nordstroms rivals macy s kohl s target amazon.com sales el puerto liverpool while neil saunders managing director globaldata nordstrom s erik seattle peter u.s in may pacific northwest early canadian canada cf chinook centre nordstrom mexican nordstroms nordstrom nordstrom rack september pete nordstrom bruce nordstrom acquired company family members billion deal store department stores stock transaction year retail private share monday announced close scrutiny executive ownership competition chain cash shares group plans shareholders board expand
BING NEWS:
- Nordstrom to be acquired by WA family and Mexican retail group for $6.25 billion
SEATTLE, Wash. — (AP) - Nordstrom has agreed to be acquired and taken private by family members and Mexican department store chain El Puerto de Liverpool for $6.25 billion, the Seattle-based company ...
12/23/2024 - 7:30 am | View Link - Nordstrom Family Reaches Deal to Take Retail Chain Private
In an effort to take Nordstrom private, a deal with El Puerto de Liverpool will include the assumption of over $2 billion in Nordstrom's debt.
12/23/2024 - 5:24 am | View Link - Nordstrom accepts bid to take company private in $6.25B deal
The family behind the Nordstrom retail chain, which has two department stores and four off-price locations in the Twin Cities, is teaming with a Mexican retailer to take the company private.
12/23/2024 - 5:12 am | View Link - Nordstrom Family Strikes Deal to Buyout Namesake Chain
The business will be acquired by members of the family and El Puerto de Liverpool, a Mexican real estate and department store company that has owned a stake in Nordstrom since 2022.
12/23/2024 - 4:44 am | View Link - Nordstrom going private in $6.25B deal with family members and Mexican retailer
Seattle-based Nordstrom has agreed to be acquired and taken private by members of the longtime retail family and El Puerto de Liverpool, a Mexican retailer, in an all-cash-deal valued at $6.25 billion ...
12/23/2024 - 4:23 am | View Link - More
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