Nordstrom edging closer to going private

One of the nation's best-performing department stores retailers may soon be out of the public arena.



Nordstrom family members are close to selecting Leonard Green & Partners to help fund a buyout of their namesake department store, reported CNBC, which cited people familiar with the matter.



The private equity firm would provide the Nordstrom family group, which owns 31.2% of the retailer, with roughly $1 billion in equity to help fund the deal, the report said. The deal between Nordstrom and Leonard Green has not yet been finalized, however, and other parties could still make a move to disrupt the talks, CNBC said.



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