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InsideArbitrage Potential Deal Alert: Nordstrom’s (JWN) Founding Family in new bid to take US retailer private

  • March 20, 2024

POTENTIAL DEAL DETAILS

StockNordstromSymbolJWN
Date Announced03/19/2024Source Reuters
TypeNews Report

According to Reuters, the founding family behind Nordstrom  (JWNis seeking to take the U.S. department store operator private, six years after a similar attempt proved unsuccessful. Nordstrom has asked investment banks Morgan Stanley and Centerview Partners to reach out to private equity firms and gauge their interest for a potential deal, the sources said.

Nordstrom Investor Relations

Previously on June 2017, Founder group tried to acquire the company for $50.00 per share in cash. On March 2018, Special Committee of  Nordstrom announced that it had terminated discussions with members of the Nordstrom family.

Update(s):

April 18, 2024: Nordstrom (JWN) said the founding family behind the department store chain had shown an interest in pursuing a potential go-private deal, prompting the company’s board to form a special committee of independent directors to evaluate any proposal.

May 2, 2024: According to Reuters, Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S. department store Nordstrom (JWN) private.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.