FMP
Nordstrom Shares Jump 11% as Founding Family Considers Privatization
Mar 19, 2024 5:55 PM - Davit Kirakosyan
Image credit: FMP
The founding family of Nordstrom (NYSE:JWN) is considering a move to take the U.S. department store chain private, revisiting a similar attempt that failed six years ago, according to a Reuters report today. Shares of Nordstrom surged over 11% intra-day today following the news.
This move marks another attempt by Nordstrom's founding family to privatize the company, an effort that dates back to 2017. Despite forming a special committee to evaluate the privatization efforts in 2018, negotiations between the family and the committee ended without reaching an agreement on the valuation.
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