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September 5, 2024

Nordstrom family bids $3.8B to take century-old retailer private

NEW YORK (AP) — Members of the Nordstrom family with the help of a Mexican retail group are offering to take the century-old department store private for $3.76 billion per share cash, months after first expressing interest in a buyout.

In a letter to the board of directors dated Tuesday, Erik Nordstrom said the Nordstrom family members own about 33.4% of the company’s outstanding common stock and is willing to pay investors $23 for each share they own.


 
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