Tuesday, October 29, 2019

Nordstrom family ends latest effort to take control

Retail Dive
Nordstrom on Monday stated that its board of directors and co-Presidents Pete and Erik Nordstrom said that they had "terminated by … mutual agreement" a proposal that "certain members of the Nordstrom family" would boost their share of common stock from about 31% to slightly more than 50%, according to a filing with the Securities and Exchange Commission.

The notice puts to rest any notion that the family would retake firm control of the business, something they had also attempted two years ago with a take-private offer that the board last year eventually deemed insufficient. . . . more