Nordstrom Goes Private: Family and Mexican Retailer Acquire Iconic Chain

Nordstrom, the historic department store, is set to be taken private through a $6.25 billion acquisition by Nordstrom family members and Mexican retail giant El Puerto de Liverpool. Shareholders receive a significant 42% premium on their stocks. Erik and Pete Nordstrom lead this strategic transition.

Nordstrom, the renowned department store established over a century ago, will transition into private ownership following a $6.25 billion acquisition agreement with the Nordstrom family and Mexican retail group El Puerto de Liverpool.

Shareholders are set to receive $24.25 per share, marking a substantial 42% premium. This offer surpasses the previous bid of $23 per share, highlighting a lucrative deal for investors.

The acquisition plan, unanimously approved by Nordstrom's board, will see the family holding majority ownership. This also coincides with their leadership roles, as Erik and Pete Nordstrom guide the company's future direction.

(With inputs from agencies.)