Sept 4 (Reuters) - Nordstrom's founding family
has made a bid to take the department store chain private by
offering $23 per share in cash for the stake they do not already
own, a filing showed on Wednesday.
The company had in April confirmed the family's interest in
pursuing a potential deal and said the department store chain's
board has decided to form a special committee of independent
directors to evaluate any proposal.
In 2018, Nordstrom rejected a bid worth $8.4 billion from
the family, saying it was too small and later ended discussions
with the group, including CEO Erik Nordstrom, after failing to
agree on a price.
The group consisting of the CEO and Chairman Peter Nordstrom
together own about 54.6 million shares, representing about
33.4% of the company's stake, As of Sept. 4.
The founding family and Mexico-based retailer El Puerto de
Liverpool sent a non-binding letter proposing a transaction
whereby they would form a new entity to buy the department store
chain, according to the filing.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Shilpi Majumdar and Arun Koyyur)