Nordstrom Family Proposes $3.76 Billion Buyout

The Nordstrom family, with Erik and Peter Nordstrom at the helm, has proposed a $3.76 billion offer to take Nordstrom Inc. private, with support from Mexican retailer El Puerto de Liverpool. The family and Liverpool aim to buy all outstanding shares for $23 each, with financing from cash, equity, and a new $250 million bank loan. This proposal comes as Nordstrom's shares have risen 35% since initial interest was reported in March, and follows a history of the company considering privatization. The board's special committee, formed in April, will review the offer but has not yet committed to accepting it. The move aims to navigate current retail challenges and capitalize on strategic opportunities.