Nordstrom Looking to Go Private
Members of the family run department store chain have formed a group to exploring buying the business.
Nordstrom Inc. is considering going private.
The Nordstrom family has formed a group to explore the possibility of pursuing a “going private transaction” involving the acquisition by the group of 100 percent of the outstanding shares of common stock of the company. The group has not yet made a proposal to the company regarding any such transaction.
The board of directors has formed a special committee comprised of the independent directors to explore the possibility of going private.
Centerview Partners LLC has been retained to serve as its financial adviser and Sidley Austin LLP will serve as legal counsel.
The family members involved include copresidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, and president of stores James F. Nordstrom, as well as chairman emeritus Bruce A. Nordstrom, and Anne E. Gittinger.