Nordstrom forms special committee to evaluate family takeover interest [Seeking Alpha]
Morgan Stanley (MS)
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Source: Seeking Alpha
CEO Erik Nordstrom and President Pete Nordstrom expressed interest in a potential deal to take the company private, Nordstrom ( JWN ) said in a statement on Thursday. "The special committee will carefully evaluate any proposal from Erik and 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 the statement. Nordstrom shares rose 4.4% in regular trading on Thursday in the wake of WSJ report that the founding family was considering a potential takeover, which followed a similar Reuters report on March 19. 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. Nordstrom ( JWN ) rejected a takeover offer from its founding family in 2018 when the family offered $50 a share. Recommended For You More Trending News About JWN Stock Related Stocks
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