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According to Reuters, Nordstrom, Inc. (JWN) seeking strategic alternatives

  • June 9, 2017

Nordstrom, Inc. (JWN) seeking alternative strategies.

Update(s):

February 24, 2018: Nordstrom Inc’s (JWN) founding family group is finalizing plans to submit an offer to take the U.S. department store operator private, people familiar with the matter said on Friday.

March 05, 2018: The Special Committee of the Board of Directors of Nordstrom, Inc. (JWN) announced that it has been notified by a group consisting of members of the Nordstrom family – Company Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, President of Stores James F. Nordstrom, Chairman Emeritus Bruce A. Nordstrom, and Anne E. Gittinger (the “Group”) that the Group intends to submit a proposal to purchase all of the outstanding shares of common stock of the Company not already owned by the Group, and approximately 21% of the shares owned by the Nordstrom family members in the Group, for $50.00 per share in cash.

The Special Committee has reviewed the Group’s indicative acquisition proposal, in consultation with its financial advisor and legal counsel, and has determined that the price proposed is inadequate.Furthermore, unless the Group can promptly and substantially improve the price it is proposing to pay for the Company, the Special Committee intends to terminate discussions.

March 20, 2018: Special Committee of Nordstrom Board Terminates Discussions with Nordstrom Family Group Regarding Potential Going Private Transaction