Eight months after they first proposed the idea, members of the Nordstrom family last week suggested a price of $50 a share to buy back from the public the storied retailer founded and built by their forebears in Seattle.
Those company board members not named Nordstrom rejected the price as “inadequate” and threatened to “terminate discussions” on the contemplated take-private transaction if the family didn’t substantially up its proposed price, and quick.
So what’s next? One person familiar with the deal thinks a resolution, one way or the other, could come soon.. . . more