Special Committee of Nordstrom Board Confirms Update from Nordstrom Family Group Regarding Potential Going Private Transaction
17 October 2017 - 12:06AM
Business Wire
Nordstrom, Inc. (NYSE:JWN) announced today that members of the
Nordstrom family – Company Co-Presidents Blake W. Nordstrom, Peter
E. Nordstrom, and Erik B. Nordstrom, President of Stores James F.
Nordstrom, Chairman Emeritus Bruce A. Nordstrom, and Anne E.
Gittinger – (the "Group") have notified the Special Committee of
the Board of Directors of Nordstrom that the Group has suspended
active exploration, for the balance of the year, of the possibility
of proposing a transaction to take the company private.
The Group informed the Special Committee that it intends to
continue its efforts to explore the possibility of making a going
private proposal after the conclusion of the holiday season. The
Special Committee, which is committed to protecting the interests
of the Company and all its shareholders, is prepared to thoroughly
evaluate such a proposal from the Group at that time, if one is
made. In the meantime, the Company and its employees will remain
focused on running the business and delivering the best shopping
experience for customers.
The Special Committee is being advised by Centerview Partners
LLC as financial advisor and Sidley Austin LLP as legal
counsel.
No assurances can be given regarding the terms and details of
any transaction, that any proposal will be made by the Group, that
any proposal made by the Group regarding a proposed transaction
will be accepted by the Special Committee, that definitive
documentation relating to any such transaction will be executed, or
that a transaction will be consummated in accordance with that
documentation, if at all.
SOURCE Nordstrom, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20171016005657/en/
Special Committee of the Board of Directors of Nordstrom:Sard
Verbinnen & CoMeghan Gavigan/Patrick
Scanlan415-618-8750/212-687-8080
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