American luxury department store chain Nordstrom will be taken private in a $6.25 billion deal, according to a company announcement.
On Dec. 23, Seattle-based Nordstrom announced it signed a definitive agreement with members of the Nordstrom family and Mexican company El Puerto de Liverpool, S.A.B. de C.V. to purchase all of the outstanding common shares of Nordstrom that the Nordstrom family and Liverpool do not already own. Nordstrom first went public in 1971.
Representatives of Nordstrom did not immediately respond to a request for comment from The Epoch Times.
According to a release from Nordstrom, shareholders will receive $24.45 in cash for each share of Nordstrom stock they hold. That is about a 42 percent premium on the stock price when the rumors of a transaction were first published in March. Moreover, Nordstrom’s board will authorize a special dividend of as much as 25 cents per share….