this post was submitted on 24 Dec 2024
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Nordstrom to be acquired by Nordstrom family and Mexican retail group for $6.25B (abcnews.go.com)
submitted 3 weeks ago by MicroWave to c/economics
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Summary

Nordstrom will be taken private in a $6.25 billion deal by Nordstrom family members and a Mexican retail group.

Shareholders will receive $24.25 per share, a 42% premium from March 18 reports of the deal.

The Nordstrom board unanimously approved the transaction. Once finalized, the Nordstrom family will hold a majority ownership stake in the company.

The deal marks a major shift for the century-old department store, ensuring continued family control.

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