Nordstrom to be acquired by Nordstrom household and Mexican retail throng for $6.25B

Century-ancient department store Nordstrom has agreed to be acquired and taken private by Nordstrom household members and a Mexican retail throng for $6.25 billion, the corporation said Monday.

Nordstrom shareholders will receive $24.25 in money for each distribute of Nordstrom ordinary distribute, representing a 42% extra charge on the corporation’s distribute as of March 18, when reports of a potential swap was reported by the media.

Nordstrom’s board of directors unanimously approved the the proposed swap, while Erik and Pete Nordstrom — part of the Nordstrom household taking over the corporation — recused themselves from voting.

Following the close of the swap, the Nordstrom household will have a majority ownership stake in the corporation.