What's New Nordstrom has reached a $6.25 billion buyout deal led by members of the Nordstrom family and Mexican retail giant El Puerto de Liverpool in an effort to take the retail chain private. Why It Matters The move marks a pivotal moment for the century-old department store chain as it grapples with fierce competition in an evolving retail sector.
The agreement comes amid a challenging period for traditional department stores, which face mounting pressure from discount chains like Walmart , fast-fashion players and e-commerce companies like Amazon . Rivals such as Macy's and Kohl's have been forced to consider sweeping changes under pressure from investors, while Nordstrom's sales have largely stagnated over the past decade. What To Know Nordstrom has agreed to be acquired and taken private by Nordstrom family members and El Puerto de Liverpool in a $6.
25 billion deal. Shareholders of the Seattle-based retailer will receive $24.25 per share in cash, representing a 42 percent premium over the stock's value as of March 18, when reports of the deal first surfaced.
The acquisition also includes the assumption of over $2 billion in Nordstrom's debt, signaling a significant financial commitment from the buyers. The Nordstrom family has long sought to regain full control of the business with a previous buyout attempt in 2017 falling through. However, Monday's announcement also tops the previous $23-per-share bid that the Nordstrom family and El Puerto de Liverpool made in Septem.