The Destron family is about to sign an agreement to acquire the American high-end retailer Nordstrom with the Mexican chain department store El Puerto de Liverpool.
According to Zhichun Finance APP, the Destron family is about to sign an agreement to acquire the American high-end retailer Nordstrom (JWN.US) with the Mexican chain department store El Puerto de Liverpool (ELPQF.US). As a result of this news, Nordstrom's stock rose more than 3% in Pre-Market Trading on Thursday. Reports indicate that an agreement may be reached this week. This process is being "advanced" and is expected to conclude this year.
In September of this year, members of the Nordstrom family proposed to acquire Nordstrom for $3.8 billion and take it private (Delisted). This proposal has received funding support from other family members and El Puerto de Liverpool. According to a letter from Nordstrom CEO Erik Nordstrom to the Board of Directors, members of the Nordstrom family hold about 33.4% of the company's publicly traded common stock and are willing to buy the Stocks from investors at a price of $23 per share.
It is reported that members of the Nordstrom family and the El Puerto de Liverpool alliance proposed a deal in which the Nordstrom family would own 50.1% of the company, while El Puerto de Liverpool would own the remaining shares. El Puerto de Liverpool acquired nearly 10% of Nordstrom's shares about two years ago.