Nordstrom Terminates Buyout Talks With Founding Family Over Price

(RTTNews) - The Special Committee of the Board of Directors of Nordstrom (JWN) announced that it has terminated discussions with members of the Nordstrom family - Company Co-Presidents Blake Nordstrom, Peter Nordstrom, and Erik Nordstrom, President of Stores James Nordstrom, Chairman Emeritus Bruce Nordstrom, and Anne Gittinger - regarding the Group's acquisition of the outstanding shares of common stock of the Company. The Special Committee took this action because it could not reach agreement with the Group on an acceptable price for the Company.

The move follows a rejected proposal earlier this month that would have valued Nordstrom at about $8.4 billion, or $50 per share.