Details of the Announcement
Nordstrom announced today that members of the Nordstrom family and Anne Gittinger have formed a group to explore the possibility of pursuing a “going private” transaction that would acquire 100% of the outstanding shares of the company.The group did not offer a proposal.
Nordstrom’s board of directors formed a special committee consisting of the independent directors to act on behalf of the company with regard to any possible transaction, and it retained Centerview Partners to serve as its financial advisor and Sidley Austin to serve as its legal counsel.
There was no additional information provided, and there is no guarantee that the group will make an offer or that a transaction will occur.
The five Nordstrom family members and the Gittinger estate together own 30.1% of the company’s shares, according to S&P Capital IQ.
