Nordstrom announced plans to go private after 53 years as a public company, with the Nordstrom family regaining majority control through a deal involving Mexican retail chain El Puerto de Liverpool. The family, led by Erik and Pete Nordstrom, will hold a 50.1% stake, while Liverpool will own 49.9% after the completion of the $6.25 billion transaction. Shareholders will receive $24.25 per share, a 42% premium from March reports of the buyout but slightly below the recent trading price. Morgan Stanley advised Nordstrom’s board on the deal, expected to finalize in the first half of 2025. Founded in 1901 by John W. Nordstrom, the family has a history of leadership in the company, with Erik as CEO, Pete as president, and other family members involved in the acquisition. Continue here.
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