Nordstrom's family offered $50. Seven years later they won at $24.25.
In 2018 the Nordstrom family offered $50 a share, was told no, and let talks lapse. In 2024 it agreed a deal at $24.25, less than half the 2018 marker. The deal closed in May 2025 with the family holding 50.1%.
Transcript
In March 2018, the Nordstrom family offered $50 a share to take its company private. The board's special committee said no.
That $50 was a 24% premium over Nordstrom's undisturbed price of $40.48. But it was non-binding, and still subject to financing. The committee wanted a higher, financed offer.
The family could raise. Or it could let the talks lapse and wait. It judged the price was not worth chasing yet, and did not want to overpay with borrowed money. By March 20, 2018, the talks were over.
The family came back. A new special committee formed on February 11, 2024. It contacted 19 strategic and financial parties. Only one indicated interest, and then it withdrew. On December 23, 2024, Nordstrom agreed to be bought by the family and Liverpool at $24.25 a share. The deal closed on May 20, 2025.
That is less than half the 2018 marker. The board approved it unanimously. Today the Nordstrom family holds 50.1% of the company, and Liverpool holds 49.9%.
Waiting worked for the family: it bought the company at less than half its first price. Shareholders got the lower number. When you let a deal lapse, you are betting on the next price. Know who wins if you are right, and who pays if you are wrong.
The records behind this video
Every figure in the video comes from this Decision Record, each with its sources.
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