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Nordstrom ( (JWN) ) has shared an announcement.
Nordstrom, Inc. has entered into a merger agreement with Norse Holdings, Inc., which will result in Nordstrom becoming a wholly-owned subsidiary of Norse Holdings. Under the terms of the merger, each share of Nordstrom’s common stock will be converted to $24.25 in cash, marking a premium of approximately 42% over the unaffected share price. The merger aims to enhance shareholder value and is expected to close in the first half of 2025, pending regulatory approval and other conditions. Following the transaction, Nordstrom will be privately owned, with the Nordstrom Family holding a majority stake and El Puerto de Liverpool owning the remainder.
More about Nordstrom
Nordstrom, Inc. is a prominent player in the department store retail industry, known for offering a wide range of products and services that cater to customer needs both in physical stores and online. The company operates over 350 locations including Nordstrom, Nordstrom Local, and Nordstrom Rack, along with digital platforms, aiming to provide convenience and a strong service foundation.
YTD Price Performance: 37.87%
Average Trading Volume: 2,145,283
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.05B
See more data about JWN stock on TipRanks’ Stock Analysis page.
