Nordstrom Family Proposes $3.8 Billion Buyout to Take Retailer Private

The Nordstrom family, alongside Mexican retailer El Puerto de Liverpool, aims to acquire the remaining shares of the company, valuing it at $23 per share.

The Nordstrom family currently owns 33.4% of the company's shares, while Liverpool holds nearly 10%.
The proposed deal would see the family and Liverpool owning 50.1% and 49.9% of Nordstrom, respectively.
A special committee of Nordstrom's board will review the offer with independent financial and legal advisors.
The offer represents a significant reduction from a previous $8.4 billion bid in 2018.
The move comes as Nordstrom seeks to navigate ongoing challenges in the retail sector.