Nordstrom’s Founding Family Tries Again to Buy Back Retailer Chain

Nordstrom’s founding family, along with Mexican retail group El Puerto de Liverpool, is offering to take its namesake department store chain private. A filing submitted to the Securities and Exchange Commission (SEC) on Sept. 4 outlined the buyout proposal, under which the Nordstrom family and Liverpool would offer $23 per share for the stock owned by investors. That represents a 0.8 percent premium to the previous day’s closing price of $22.82. The Nordstrom family already owns approximately 33.4 percent of the company’s outstanding shares, while Liverpool, which operates more than 300 stores in Mexico, currently holds 9.6 percent of Nordstrom’s stock. With about 163.65 million shares outstanding, the buyout bid values Nordstrom at $3.76 billion....