Nordstrom Considers Going Private

Nordstrom (Seattle) announced that the Nordstrom family, including multiple who are company executives, have formed a group to consider acquiring the publicly traded company.

A special committee has been formed that includes independent directors as well as legal and financial advisers to help evaluate the potential bid. Family members who are involved include co-presidents Blake Nordstrom, Peter E. Nordstrom and Erik Nordstrom; president of stores James Nordstrom; chairman Emeritus Bruce Nordstrom; and Anne Gittinger, reports USA Today.

If the heirs do acquire the company, it would become a private business. According to Financial Post, the family would not be able to take certain actions until January 2019.