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Nordstrom Announces Exploration of “Going Private” Transaction

Executive Summary

  • Nordstrom announced today that members of the Nordstrom family and Anne Gittinger have formed a group to explore the possibility of pursuing a “going private” transaction that would acquire 100% of the outstanding shares of the company.
  • The group did not offer a proposal.
  • Nordstrom’s board of directors formed a special committee consisting of the independent directors to act on behalf of the company with regard to any possible transaction, and it retained a financial advisor and legal counsel.
  • There was no additional information provided, and there is no guarantee that the group will make an offer or that a transaction will occur.
  • The five Nordstrom family members and the Gittinger estate together own 30.1% of the company’s shares, according to S&P Capital IQ.

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