Nordstrom To Explore Buyout

Jamie Grill-Goodman
Editor in Chief
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Nordstrom, Inc. announced that members of the Nordstrom family are exploring ways to take the department store chain private.

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 – have formed a group (the "Group") to explore the possibility of pursuing a transaction involving the acquisition by the Group of 100% of the outstanding shares of common stock of the company.

The Group has not made a proposal to the company regarding any such transaction.

The company's board of directors has formed a special committee comprised of the independent directors to act on behalf of the company in connection with such exploration by the Nordstrom family and any possible transaction. The Special Committee has retained Centerview Partners LLC to serve as its financial advisor and Sidley Austin LLP to serve as its legal counsel.