Nordstrom Family May Try Again To Gain Control Of Troubled Retailer
by MR Magazine Staff
Aug 01, 2019
Fifteen months after a failed bid to buy all of their namesake company, the Nordstrom family may try again to gain majority control of the retailer. The Wall Street Journal reported Wednesday that members of the Nordstrom family, which now holds 31.3% of the Seattle-based company’s publicly traded shares, are “in the early stages of discussing a proposal” to increase that stake more than 50%. It was not clear from the report whether the Nordstrom family would seek to go beyond a majority stake and buy all outstanding shares, which would turn Nordstrom into a private firm shielded from the scrutiny of shareholders, analysts and the media. Read more at The Seattle Times.
Let’s hope they are successful so merchants can focus on what they should and not worry about Wall Street know nothings.