NORDSTROM FORMS SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS IN RESPONSE TO EXPLORATION OF GOING PRIVATE
The Board of Directors of Nordstrom, Inc. has authorized the exploration of possible avenues to enhance shareholder value, including Erik and Pete Nordstrom’s (chief executive officer and president, respectively) proposal to take the company private. The Board has formed a special committee of independent and disinterested directors to evaluate the Nordstrom’s proposal, and any from other parties, to consider whether they are in the best interests of the company and its shareholders. The special committee retained Morgan Stanley & Co. LLC and Centerview Partners LLC as financial advisors and Sidley Austin LLP and Perkins Coie LLP as legal counsel.
There can be no assurance that the Company will pursue any particular transaction or other strategic outcome, or that a proposed transaction will be approved or consummated. The Company does not intend to disclose further developments regarding this matter unless and until further disclosure is determined to be appropriate or necessary.
