Nordstrom to go private, namesake family receives board approval to acquire retailer

A deal that could see US department store giant Nordstrom go private has been approved by the board of directors, potentially allowing for the company’s namesake family to acquire all outstanding shares of the firm. The Nordstrom family, consisting of Erik, Pete, Jamie and other members, will come together with Mexican real estate company El Puerto de Liverpool, S.A.B. de C.V. (Liverpool) in a bid to secure the remaining shares of the firm in an all-cash transaction valued at around 6.25 billion dollars.