New York CNN —
Nordstrom, the upscale department store chain, is going private in a $6.25 billion deal with its founding family.
The retailer announced Monday that the family — Erik, Pete and Jamie Nordstrom — as well as Mexican department store chain El Puerto de Liverpool will acquire the remaining shares they don’t own, giving the family a majority ownership stake in the 123-year-old company.
Shareholders will receive $24.25 in cash for each share, a roughly 42% premium of the stock based on the price on March 18, 2024 when speculation about Nordstrom (JWN)
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