Nordstrom Acquires by Founding Family and El Puerto de Liverpool

(Reuters) – Nordstrom has agreed to be acquired by its founding family and Mexican retailer El Puerto de Liverpool in a deal valuing the luxury department store operator at about $6.25 billion, including debt.

The company's shareholders will receive $24.25 in cash for each share, an increase from the prior $23 offer made in September.

The new offer price represents a 42% premium over the stock's unaffected close on March 18. Reuters exclusively reported that the founding family was seeking to take Nordstrom (NYSE:JWN) private, six years after a previous attempt fell short.

Before the announcement, Nordstrom's shares were down nearly 2% on Monday.

This acquisition will grant CEO Erik Nordstrom and President Pete Nordstrom a majority ownership stake and occurs as U.S. department store chains face challenges with muted sales and rising costs.

In February, Nordstrom formed a special committee in response to interest from Erik and Pete Nordstrom regarding a potential deal.

The transaction is projected to close in the first half of 2025.