Nordstrom Family Proposes $3.76 Billion Buyout to Take Chain Private

The Nordstrom family's bid to take the department store chain private involves an offer of $23 per share in cash for the remaining shares they do not already own. This offer, led by Erik and Peter Nordstrom, aims to create a new entity to acquire the company. The proposed transaction includes forming a partnership with Mexican retail group El Puerto de Liverpool, which holds approximately 9.6% of Nordstrom's stock.

The proposed transaction, valued at $3.8 billion, would be financed through a combination of equity and cash commitments from family members and Liverpool, along with $250 million in new bank financing. The offer represents a nearly 35% premium over Nordstrom’s stock price as of March 18. If successful, the company would be 50.1% owned by the Nordstrom family and 49.9% by Liverpool. A special committee of independent directors has been formed to evaluate the proposal.