Pins matching tag:Take-Private

Nordstrom's board agreed to sell the retailer to the founding Nordstrom family and Mexican department-store group El Puerto de Liverpool for $24.25 a share in cash, a $6.25 billion deal that would return the 124-year-old chain to family control with the family holding 50.1% and Liverpool 49.9%.

Nordstrom shareholders approved the $6.25 billion take-private merger with the Nordstrom family and El Puerto de Liverpool at a virtual special meeting, with more than 99% of votes cast backing the deal and minority shareholders separately clearing the required majority.

Nordstrom's take-private merger with the Nordstrom family and El Puerto de Liverpool became effective, ending 36 years as a New York Stock Exchange-listed company as shareholders received $24.25 a share in cash and the retailer returned to family control.