Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Nordstrom stock rises as potential acquisition deal said near

admin by admin
December 19, 2024
in Stock
0
Nordstrom stock rises as potential acquisition deal said near
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Investing.com — Shares of Nordstrom Inc . (NYSE:JWN) climbed 3.3% in pre-open trading Thursday following reports from Women’s Wear Daily that the Nordstrom family and El Puerto de Liverpool are nearing an agreement to purchase the outstanding shares of the company. The potential deal, which could be finalized as early as this week, has sparked investor interest, leading to a noticeable uptick in the stock’s performance during the trading session.

A proposal, initially received by Nordstrom’s special committee in September, outlined an acquisition price of $23.00 per share in cash, excluding shares held by the Nordstrom family and Liverpool. The financing structure for the merger includes a mix of rollover equity, cash commitments from the Nordstrom family and Liverpool, and $250 million in new bank financing, while existing company debt would remain in place.

The special committee, consisting of independent directors, was established after Erik and Pete Nordstrom expressed interest in a potential transaction. With the aid of independent financial and legal advisors, the committee is tasked with reviewing the proposal to determine the best course of action for Nordstrom and its shareholders. At this time, shareholders have been advised that no action is necessary.

Morgan Stanley & Co (NYSE:MS). LLC and Centerview Partners LLC are serving as financial advisors, while Sidley Austin LLP and Perkins Coie LLP are acting as legal counsel to the special committee during this evaluation process.

The reported advancement towards a deal has evidently resonated with the market, as evidenced by the positive movement in Nordstrom’s stock price. Investors are closely monitoring the situation, awaiting any official confirmation or updates regarding the potential acquisition.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Previous Post

Roche’s Parkinson’s drug misses main goal in mid-stage trial

Next Post

MetaMask launches crypto debit card in Brazil, Colombia, and Mexico

admin

admin

Next Post
MetaMask launches crypto debit card in Brazil, Colombia, and Mexico

MetaMask launches crypto debit card in Brazil, Colombia, and Mexico

Trending News

Hubspot stock price slowly forms a bullish pattern: what next?

Hubspot stock price slowly forms a bullish pattern: what next?

December 21, 2024
Centrica hit, Next, JD Wetherspoons rejoice: how UK’s record-breaking April sun impacted business fortunes

Centrica hit, Next, JD Wetherspoons rejoice: how UK’s record-breaking April sun impacted business fortunes

May 8, 2025
Indian markets open: Sensex holds gains, Nifty above 24,350 ahead of US jobs data

Indian markets open: Sensex holds gains, Nifty above 24,350 ahead of US jobs data

May 2, 2025
Subscribe to Insightful Word


    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025
    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    June 6, 2025
    Starlink reportedly secures key licence in India, moves closer to launching services

    Starlink reportedly secures key licence in India, moves closer to launching services

    June 6, 2025

    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025

    Latest News

    • China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll
    • FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more
    • Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.