Thursday, March 15, 2018

Industry Pros Expect Another Nordstrom Buyout Offer, And No Store Closures

NREI Online

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