Nordstrom Stock News

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Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition.

The Nordstrom family has long wished to wrestle back control of the retail company founded by patriarch John W. Nordstrom in 1901.

The Nordstrom family now owns the department store chain bearing their name. Erik, Pete and Jamie Nordstrom and other members of their family, along with Mexican retailer Puerto de Liverpool, announced a deal Monday (Dec. 26) to acquire all of Nordstrom's outstanding common stock.

Seattle-based Nordstrom has agreed to be acquired and taken private by members of the longtime retail family and El Puerto de Liverpool, a Mexican retailer, in an all-cash-deal valued at $6.

Nordstrom (JWN) will soon be off the stock market, after agreeing to be taken private by its founding family and Mexican retailer El Puerto de Liverpool in a deal valuing the department store chain at about $6.25 billion.

Nordstrom will become a private company as a result of the deal, which was unanimously approved by the board of directors.