Nordstrom Family Makes Second Attempt to Take the Company Private in a $3.8 Billion B

[Sanjeev Advani]

The Nordstrom family is making a renewed effort to take their iconic department store chain private, marking their second attempt since 2017. Teaming up with Mexican retail giant El Puerto de Liverpool, the family has made a $3.8 billion bid at $23 per share.

Nordstrom, like many department stores, is struggling with changing retail trends, including competition from discount chains and the rise of online shopping. If successful, this move would give the Nordstrom family 50.1% control, while Liverpool would own 49.9%.

The first attempt in 2018 failed due to an inadequate offer. However, this time, with stronger financial backing, the family is hoping to regain control and potentially monetize their 350 locations, including the flagship Seattle store and Nordstrom Rack outlets.

The outcome remains uncertain, but this bold move could shape Nordstrom’s future in a challenging retail environment.