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⏲ Duration: 0:38
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✓ Published: 20-Apr-2024
👁 View: 85K times
✓ Published: 20-Apr-2024
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The Nordstrom family wants to take the department store private and formed a special committee to evaluate bids. CEO Erik and President Pete Nordstrom recently told the board they want to pursue a take-private deal. The board formed an independent committee to evaluate proposals from the Nordstroms and any outside parties. The company unsuccessfully tried to go private in 2017 as it hoped to allow investments without public scrutiny pressures. Department stores face an uncertain future with declining sales and brands focusing elsewhere. Shares rose around 2% after hours of the announcement.
The Nordstrom family wants to take the department store private and formed a special committee to evaluate bids. CEO Erik and President Pete Nordstrom recently told the board they want to pursue a take-private deal. The board formed an independent committee to evaluate proposals from the Nordstroms and any outside parties. The company unsuccessfully tried to go private in 2017 as it hoped to allow investments without public scrutiny pressures. Department stores face an uncertain future with declining sales and brands focusing elsewhere. Shares rose around 2% after hours of the announcement.
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