Members of the Nordstrom family, including CEO Erik Nordstrom, have partnered with Mexican omnichannel retailer El Puerto de Liverpool to take Nordstrom Inc. private in a $6.25 billion all-cash deal, the companies announced Monday. Seven law firms facilitated the agreement, which will reshape the iconic retailer’s future.
Key Details of the Transaction
Under the terms of the agreement, the Nordstrom family and Liverpool will acquire all outstanding shares they do not already own for $24.25 per share, representing a 42% premium over Nordstrom’s closing price before speculation about the deal began in March.
The announcement follows months of deliberation by the retailer, which in September acknowledged receiving a $23-per-share proposal valuing the company at approximately $3.8 billion. The deal is expected to close in the first half of 2025, with the Nordstrom family holding a majority stake.
Legal Teams Drive the Agreement
The landmark deal required coordination across seven law firms. Sidley Austin LLP and Perkins Coie LLP advised Nordstrom’s special committee of directors, while WilmerHale, Lane Powell PC, and Davis Wright Tremaine LLP counseled the Nordstrom family. Liverpool received legal guidance from Simpson Thacher & Bartlett LLP and Galicia Abogados SC.
