Nordstrom falls after agreeing $6.25 bln take-private deal with founding family

Nordstrom

23/12/2024 14:12

** Department store chain Nordstrom's  JWN.N  shares fall
1.5% to $24.16 premarket
    ** Co says it will be acquired by its founding family and
Mexican retailer El Puerto de Liverpool  LIVEPOLC1.MX  in an
all-cash deal valuing it at ~$6.25 bln
    ** Says each JWN shareholder will receive $24.25 in cash per
share, a discount of 1.1% to Friday's close
    ** Deal is at a 42.2% premium to close of March 18, when
Reuters reported the founding family's plans to take company
private
    ** Co expects deal to close in the first half of 2025
    ** Up to Friday's close, stock has risen 33% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))