Nordstrom family reportedly preparing proposal to up their stake in company
They’re back.
A group of Nordstrom family members who own 31.2% of the department store company have been working on a proposal to increase their stake to more than half, reported CNBC. Last year, the family terminated talks to take Nordstrom private after an initial offer of $50 a share was rejected as too low.
With the family holding a larger stake in the company, it would be less subject to investor pressures as it works to transform its business to meet the needs of today’s shoppers, the report said.
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A group of Nordstrom family members who own 31.2% of the department store company have been working on a proposal to increase their stake to more than half, reported CNBC. Last year, the family terminated talks to take Nordstrom private after an initial offer of $50 a share was rejected as too low.
With the family holding a larger stake in the company, it would be less subject to investor pressures as it works to transform its business to meet the needs of today’s shoppers, the report said.
Click here to read the full story.