Tuesday, October 3, 2017

Nordstrom's attempt to go private has stalled over financing

Customers exit NordstromNordstrom family members are struggling to cobble together the financing to support their attempt to take the eponymous department store private, people familiar with the matter said Monday.

The Nordstrom family is working with private equity firm Leonard Green to provide equity financing on the deal, CNBC earlier reported, but it will need bank support for the debt financing. It will need both equity and debt financing before it can submit a bid to the independent special committee it has appointed to review any offer.. . . more

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