Nordstrom Agrees to $6.25 Billion Acquisition by Founding Family and Retailer

has agreed to be acquired by its founding family and Mexican retailer El Puerto de Liverpool in a deal that values the luxury department store operator at about $6.25-billion, including debt. The company’s shareholders will get $24.25 in cash for each share held, an increase from the $23 apiece offer made in September. The offer price represents a 42 per cent premium to the stock’s unaffected close on March 18.

Reuters exclusively reported on March 19 that the founding family was seeking to take Nordstrom private, six years after a similar attempt proved unsuccessful.The acquisition gives the family consisting of CEO Erik Nordstrom and President Pete Nordstrom a majority ownership stake in the company and comes at a time when department store chains across the U.S. are grappling with muted sales amid higher costs. Nordstrom had formed a special committee in February in response to interest expressed by Erik and Pete Nordstrom for a possible deal

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Rogers gets Competition Bureau approval for acquisition of BCE’s stake in MLSEDeal would give company a 37.5-per-cent stake in the professional sports and entertainment company
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Competition Bureau approves proposed acquisition of Wealth One Bank of CanadaThe deal still requires the approval of two federal regulators: the Office of the Superintendent of Financial Institutions and the federal Minister of Finance
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Paladin Uranium Acquisition Faces Chinese Influence RestrictionsCanadian government imposes conditions on Paladin Energy's takeover of Fission Uranium, limiting China's access to Canadian uranium.
La source: globeandmail - 🏆 5. / 92 Lire la suite »