March 18, 2024
By Highpoint Digest News
Seattle, WA – (highpoint Digest) – The Board of Directors of Nordstrom, Inc. (NYSE: JWN) is committed to enhancing shareholder value and regularly evaluates a wide range of strategic, financial and operational alternatives as the Company continues to execute its strategic plan.
As part of the Board’s most recent evaluation, the Board authorized the exploration of possible avenues to enhance shareholder value. During this process, Erik and Pete Nordstrom, the Company’s chief executive officer and president, respectively, notified the Board of their interest in pursuing a potential transaction pursuant to which Nordstrom would become a private company.
In response, the Board formed a special committee of independent and disinterested directors. 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. 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.
Source: Nordstrom, Inc.
Photo courtesy of Nordstrom, Inc.
