Nordstrom family makes $3.76B offer to take retailer private

Wed, Sep 4, 2024, 9:36 AM

Department store Nordstrom (JWN) received a $3.8 billion buyout offer from a group comprised of Erik Nordstrom, Peter Nordstrom, other members of the family, and Mexican retailer El Puerto de Liverpool (LIVEPOL1.MX, LIVEPOLC-1.MX). Great-grandsons of Nordstrom founder John W. Nordstrom, Erik currently serves as Nordstrom's CEO while Peter holds the position of president.

Catalysts anchors Madison Mills and Brad Smith outline the group's plan to take Nordstrom private through this buyout proposal.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Luke Carberry Mogan.