Nordstrom family makes $3.76 billion bid to take retailer private

Led by Erik Nordstrom, Nordstom’s CEO, and Peter Nordstrom, the company’s president, the family has partnered with Mexico-based retailer El Puerto de Liverpool, offering $23 per share in cash for the remaining shares the parties do not already own. This is the family’s second attempt in six years to gain full control of the retailer.

A special committee of Nordstrom’s board, formed earlier this year after the family first expressed interest in a potential takeover, is now reviewing the proposal.
more at: https://www.digitalcommerce360.com/2024/09/10/nordstrom-family-makes-bid-to-take-retailer-private/

Related Posts

Grist Acquires Assets Of Environmental Magazine ‘Pacific Standard’ (mediapost.com)

Environmental media organization Grist announced today that it has acquired the digital archives and brand assets of online social and environmental-social justice magazine Pacific Standard. Through the agreement, Pacific Standard’s content, which includes written stories in addition to audio and video, will be available for free via its original URL, psmag.com, which Grist now owns. Pacific Standard, which features a combination of deeply reported journalism and peer-reviewed research, was forced to shutter in August of last year after one of its major financial backers pulled funding. The magazine was founded by Sara Miller McCune in 2008 and was first called Miller-McCune.

Retail and industry groups warn a trade war could be costly

China has pledged a tit-for-tat response. In April, it said it would levy 25% tariffs on imports of 106 U.S. products in response to proposed American duties. The White House on Friday imposed $50 billion of tariffs on Chinese goods—a move, it says, will protect American workers and businesses from unfair trade practices. But the country’s largest retail trade association and some analysts are not buying that argument. “Tariffs are taxes on American consumers, plain and simple,” Matthew Shay, CEO of the National Retail Federation (NRF) said in a statement. “These tariffs won’t reduce or eliminate China’s abusive trade practices, but they will strain the budgets of working families by raising consumer prices.” Click Read More below for additional information.
Back To Top
×Close search
Search