Nordstrom to Become Private in a Landmark Deal

In a groundbreaking announcement, Nordstrom revealed plans for a $6.25 billion buyout to transition into a private company. The deal, jointly financed by the founding Nordstrom family and Mexican retailer El Puerto de Liverpool, signifies a significant shift for the renowned fashion retailer.

Equity Distribution and Shareholder Benefits

Under the terms of the agreement, the Nordstrom family will secure a 50.1% majority stake, while Liverpool will hold 49.9%. Shareholders will receive $24.25 per share in cash, a decision unanimously approved by the board. The transaction is expected to finalize within the first half of 2025.

A New Chapter for Nordstrom

Erik Nordstrom, the company's CEO, expressed enthusiasm for the future, stating, "For over a century, Nordstrom has been dedicated to helping customers look and feel their best. This deal marks a thrilling new era for our business, and we, as a family, are eager to collaborate with our teams to ensure Nordstrom's enduring success."