Nordstrom Inc.’s (JWN) founding family has
notified the board of its interest in taking the company private. The
company formed a special committee to evaluate any proposal from the
company’s Chief Executive Officer Erik Nordstrom and the company’s
president Pete Nordstrom, and any proposals from other parties and
consider whether they are in the best interests of Nordstrom and all
shareholders, the department-store chain said in a statement.
The special committee retained Morgan Stanley & Co. LLC and
Centerview Partners LLC as financial advisors and Sidley Austin LLP
and Perkins Coie LLP as legal counsel.
There can be no assurance that the company will pursue any particular
transaction or other strategic outcome, or that a proposed
transaction will be approved or consummated, Nordstrom said.
JWN closed Thursday’s regular trading at 18.74dollars up 0.79 dollars or 4.40 percent. In
the after-hours trading the stock further gained 0.41 dollars or 2.19 percent.(DPA)
