Consumer
Nordstrom Family to Take Chain Private in $6.25 Billion Deal
- Founding family and Mexico’s Liverpool offer $24.25 a share
- Company has reported uneven sales growth in recent years
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The Nordstrom family is joining forces with a Mexican retailer to take its namesake department store private in an all-cash transaction valued at about $6.25 billion, including debt.
The founding family is betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market after shares in Nordstrom Inc. plunged 40% in the last five years. During the same period, the Russell 1000 Index rose more than 80%.