Nordstrom, a US-based department store chain with over 350 locations, is set to be acquired by its family members and a Mexican company, El Puerto de Liverpool, for $6.25 billion. The deal will see the Nordstrom family hold a majority ownership stake of 50.1% in the company.
The acquisition is expected to close in the first half of 2025, with all outstanding common shares being acquired by the Nordstrom family and Liverpool. The deal marks a significant change for Nordstrom, which will transition from a public to private company.
Under the terms of the agreement, shareholders will receive $24.25 in cash for each share they hold, representing a premium of 42% over the unaffected closing common stock price on March 18. Additionally, the board intends to authorize a special dividend of up to $0.25 per share immediately before and contingent on the close of the deal.
The Nordstrom family members, who collectively own 33.4% of the company, will see their stake increase significantly with the acquisition. The Mexican company, Liverpool, acquired a 9.6% stake in Nordstrom in 2022 for approximately $300 million.
Source: https://eu.usatoday.com/story/money/retail/2024/12/23/nordstrom-family-private-el-puerto-de-liverpool/77181103007