Nordstrom accepts bid to take company private in $6.25 billion deal

[Yo_Mama_Been_Loggin]

The Nordstrom family is teaming up with a Mexican retailer to take the department store chain private.

Nordstrom (NYSE: JWN) announced Monday that a special committee of its independent board members had unanimously accepted a $6.25 billion buyout deal with the family and fellow shareholder El Puerto de Liverpool.

"For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best," CEO Erik Nordstrom said in a news release. "Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future."

Under the deal, the Nordstrom family will own 50.1% of the Seattle-based retailer, with Liverpool owning the remaining 49.9%. It's expected to close in the first half of 2025.

https://www.bizjournals.com/seattle/news/2024/12/23/nordstrom-family-takes-department-store-private.html

Haven't shopped at Nordstrom in years.

[msongs]

1. to be run into debt, stripped of all its assets, the people fired, and the corpse dumped in the gutter nt

[JI7]

2. The family has half the ownership

I can't see them wanting to destroy .