Nordstrom (JWN) has entered into a definitive agreement whereby Erik, Pete, and Jamie Nordstrom, along with other members of the Nordstrom family and El Puerto de Liverpool, S.A.B., are set to acquire all outstanding common shares of Nordstrom they do not already beneficially own. This all-cash transaction is valued at approximately $6.25 billion on an enterprise-value basis. Shareholders of Nordstrom's common stock will receive $24.25 per share in cash. In addition, the Board plans to authorize a special dividend of up to $0.25 per share, which is contingent upon and will be distributed immediately before the transaction's completion.
Upon finalization of the deal, Nordstrom will transition to a private entity, with ownership split at 50.1% by the Nordstrom Family and 49.9% by Liverpool.
The material has been provided by InstaForex Company - www.instaforex.com
Upon finalization of the deal, Nordstrom will transition to a private entity, with ownership split at 50.1% by the Nordstrom Family and 49.9% by Liverpool.
The material has been provided by InstaForex Company - www.instaforex.com