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Bloomberg Published December 27, 2024 Reading time
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Nordstrom’s holiday gift needs to be more generous

By
Bloomberg Published
December 27, 2024

Nordstrom Inc. has wrapped up a $4 billion holiday gift for shareholders. But independent investors have room to ask for a more extravagant offering.

The retailer agreed on Monday to be acquired by the Nordstrom family and Mexican department store chain El Puerto de Liverpool, in a transaction valued at $6.25 billion including debt. The $24.25 per share in cash from the consortium, which controls 43% of the shares, is less Scrooge-like than the $23 it offered in September. But it’s still no knockout.

The equity component represents a 42% premium to the undisturbed price on March 18, before reports of the family’s interest in exploring a transaction surfaced. The company will also pay a special dividend of up to 25 cents.