Nordstrom Is Being Taken Private. Why Its Stock Is Dropping.

Nordstrom said Monday that it would be taken private after agreeing to be acquired by members of the Nordstrom family and a Mexican department store company. The Nordstrom family and El Puerto de Liverpool will purchase all outstanding common shares they don’t already own in a cash transaction valued at roughly $6.25 billion on an enterprise basis, Nordstrom said. Shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold.

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