Nordstrom Family Eyes Private Takeover with Mexican Partner

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Nordstrom Family Eyes Private Takeover with Mexican Partner
The Nordstrom family, backed by a Mexican retail group, has offered to take the department store chain private for $3.76 billion.
The proposed buyout values Nordstrom shares at $23 each, a premium of nearly 35% over recent prices.
The family's late father, Bruce Nordstrom, was a significant influence behind the proposed transaction.
Nordstrom's special committee will evaluate the offer, which comes as the retailer regains momentum after a period of poor performance.
The business remains one of two halves, with the department store division facing structural challenges and the off-price Rack division performing strongly.

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