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Nordstrom Pauses Search for Buyout Partner

The Nordstrom family is no longer actively looking to close on a sale this year but will resume after the holiday season ends.

Associated Press

16 October 2017

SEATTLE, United States — Nordstrom is halting, at least temporarily, the search for a buyer.

Shares tumbled 5 percent at the opening bell Monday.

The retailer said in a regulatory filing that several members of the Nordstrom family told the company's special committee that they are suspending actively looking to close on a sale this year. The company will again be looking into a possible deal after the holiday season ends.

In June, Nordstrom Inc. announced that members of the Nordstrom family including co-presidents Blake, Peter and Erik Nordstrom were considering making an offer to buy out the 70 percent of the department store's stock they don't already own.

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[ Nordstrom Family Exploring Deal to Take Retailer PrivateOpens in new window ]

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Seattle, United States

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