Nordstrom has announced that it will be acquired for $6.25 billion by the Nordstrom family and the Mexican retail chain El Puerto de Liverpool. Once the deal is completed, all outstanding common shares of Nordstrom will be purchased by Liverpool and members of the Nordstrom family, including Erik, Pete, and Jamie Nordstrom. This acquisition will transform Nordstrom from a publicly traded company to a privately owned one, with the Nordstrom family holding a majority stake.
The Nordstrom family currently owns 33.4% of the company, while Liverpool holds a 9.6% stake, which it purchased in 2022 for around $300 million. According to the terms of the deal, Nordstrom’s common shareholders will receive $24.25 per share in cash, reflecting a 42% premium over the company’s stock price prior to rumors of the acquisition. Additionally, the company plans to issue a special dividend of up to $0.25 per share before the deal closes.
The Nordstrom Board of Directors, excluding Erik and Pete Nordstrom who recused themselves, approved the deal, agreeing it offers significant value to shareholders.
The transaction is expected to close in the first half of 2025, after which the company’s common stock will be delisted from public exchanges.
Following the acquisition, the Nordstrom family will own 50.1% of the company, with Liverpool holding the remaining 49.9%.
