Nordstrom forms special committee to explore going private

Dow Jones04-19

MW Nordstrom forms special committee to explore going private

Department-store chain Nordstrom Inc. $(JWN)$ has formed a special committee of independent directors to explore going private, the company said on Thursday. The chain's board made that decision after Erik Nordstrom and Pete Nordstrom, the company's chief executive and president, expressed interest in such a deal. In connection with that move, the company said the committee retained Morgan Stanley and Centerview Partners as financial advisers, and Sidley Austin and Perkins Coie as legal counsel. "The special committee will carefully evaluate any proposal from Erik and Pete Nordstrom and any proposals from other parties and consider whether they are in the best interests of Nordstrom and all shareholders," Nordstrom said. It added that there was no guarantee of any deal. Shares were up 4.4% after hours on Thursday.

-Bill Peters

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April 18, 2024 16:24 ET (20:24 GMT)

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