Nordstrom’s founding family has submitted a bid to take the department store chain private at $23 per share in cash for the remaining stake they don’t already own, according to a recent filing. The company previously acknowledged the family’s interest in April and formed a special committee of independent directors to evaluate the proposal. In 2018, a bid worth $8.4 billion was rejected by the board for being too small. The family currently holds approximately a third of the company's shares.
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00:00It's Benzinga, and here's what's on the block.
00:02Nordstrom's founding family has submitted a bid to take the department chain private
00:07at $23 per share in cash for the remaining stake they don't already own, according
00:12to a recent filing.
00:13The company previously acknowledged the family's interest in April and formed a special committee
00:18of independent directors to evaluate the proposal.
00:21In 2018, a bid worth $8.4 billion was rejected by the board for being too small.
00:26The family currently holds approximately a third of the company's shares.
00:30For all things money, visit Benzinga.com.