Connect with us

Headlines

Nordstrom Remains Public

Talks with the founding family to take the retailer private have ended

Published

on

Nordstrom (Seattle) says it will remain in the public arena and talks to take the company private by the founding family have ended.

The Nordstrom family group included the company’s Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom; President of Stores James F. Nordstrom; Chairman Emeritus Bruce A. Nordstrom; and Anne E. Gittinger. The group began discussions last year about acquiring the company and taking it private.

The company’s special committee said that the two sides were not able to agree on an acceptable price. Earlier this month, the family group submitted an offer of $50 a share.

According to Chain Store Age, “The decision by the special committee to end discussions with the family about taking the retailer private comes amid increased caution by lenders to make big investments in retail acquisitions, which often result in the acquired companies being saddled with a heavy debt load.”

Advertisement

SPONSORED HEADLINE

7 design trends to drive customer behavior in 2024

7 design trends to drive customer behavior in 2024

In-store marketing and design trends to watch in 2024 (+how to execute them!). Learn More.

Promoted Headlines

Advertisement
Advertisement

Subscribe

Advertisement

Facebook

Most Popular