Nordstrom gains on founding family's take-private offer

Nordstrom

04/09/2024 14:59

** Shares of department store operator Nordstrom  JWN.N  up
2.6% at $23.40
    ** Group led by CEO Erik Nordstrom and co-president Peter
Nordstrom offers to take company private for $23 per share
    ** Nordstrom family owns about 33.4% stake, as of Sept. 4
    ** Board's special committee to review proposal
    ** Offer represents near 35% premium to stock's close on
March 18, a day before Reuters reported the founding family was
seeking to take JWN private
    ** Nordstrom had a market capitalization of $3.73 billion,
as of last close
    ** Deal to be financed through a combination of roll over
equity and cash commitments and $250 million in new bank
financing
    ** YTD, stock up 23.7% as of last close

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))