Nordstrom family makes $3.8 billion bid to take retailer private

[Yo_Mama_Been_Loggin]

Erik and Pete Nordstrom have submitted a proposal to take the Seattle-based Nordstrom Inc. (NYSE: JWN) department store chain private by acquiring all outstanding shares for $23 each in cash, a special committee of the Nordstrom’s board of directors said in a Wednesday news release.

The Nordstrom brothers — Erik is the company CEO and Pete is president — are joined by other members of their family, as well as the Mexican department store chain El Puerto de Liverpool.

The $3.8 billion proposal for nearly 164 million shares of common stock would be financed through a combination of rollover equity and cash commitments by the Nordstrom family and Liverpool, along with $250 million in new bank financing.

The company’s existing debt of $2.6 billion would remain outstanding, according to a filing with the Securities and Exchange Commission.

https://www.bizjournals.com/seattle/news/2024/09/04/nordstrom-family-bids-to-take-retailer-private.html

[bucolic_frolic]

1. I mean wow they are all in on that deal

and taking on partner and lots of debt. Hope they know what theyre doing. But I guess it is llike private equity to them, and if you do not do this now you will wake up some day to find some other private equity deal had bought the company out from under you. Macys has been stalked for months, Kohls off and on over the last few years.