World Footwear

Companies

Nordstrom brothers make bid to buy back eponymous retailer

Sep 6, 2024 United States
Nordstrom brothers make bid to buy back eponymous retailer
The Seattle-based department store chain has confirmed that brothers Erik and Peter Nordstrom have made an offer to take their namesake retailer private, potentially returning the company to family control
Brothers Erik and Pete Nordstrom, along with other members of the Nordstrom family and the Mexican retailer Liverpool, have offered to acquire all the company’s outstanding shares that the group does not already own for 23 US dollars a share in cash for a total of 3.8 billion US dollars.

The move could see the luxury department store chain founded by their great-grandfather in 1901 returned to family control.

Under the proposal, the merger consideration would be financed through rollover equity and cash commitments from members of the Nordstrom family and Liverpool and 250 million US dollars in new bank financing, with the company’s existing debt remaining outstanding.

Nordstrom said the proposal is now being reviewed by an “independent and disinterested” special committee of its board of directors.


Image Credits: press.nordstrom.com/about/


Related Events

  • Jun
    8
    Jun 8-Jun 9, 2025 | Michigan, United States

    Metro-Michigan Women's Wear Market

  • Jun
    10
    Jun 10-Jun 13, 2025 | Dallas, United States

    Dallas Apparel & Accessories Market

  • Jun
    16
    Jun 16-Jun 18, 2025 | LA, United States

    LA Market Week

  • Jun
    18
    Jun 18-Jun 20, 2025 | Salt Lake City, Utah, United States

    Outdoor Retailer

Related Organizations

  • The Atlanta Shoe Market

    The Atlanta Shoe Market

    United States
  • SSIA - Shoe Service Institute of America

    SSIA - Shoe Service Institute of America

    United States
  • USRA - United Shoe Retailers

    USRA - United Shoe Retailers

    United States
  • TUSPM Shoe Museum

    TUSPM Shoe Museum

    United States