In the renewed bid by family members of Seattle-based department store chain Nordstrom to round up financing and buy enough shares to take the company private, shareholders are being firm that the buyout group offer a fair price.
On March 5, the special committee of the board of directors
received—and rejected—an offer on the company because the board felt the
offer was too low. The prospective buyers, consisting of about a half
dozen Nordstrom family members and a private equity firm, proposed to
buy all of the company’s outstanding common stock, and about 21 percent
of family-owned shares, for $50 per share.. . . more