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- Nordstrom said it rejected a takeover offer from members of the Nordstrom family.
- They called the price “inadequate.”
- The family members — who are decedents of founder John W. Nordstrom — own about a 30% stake in the company.
NEW YORK (AP) — Department store operator Nordstrom said Monday it had rejected a takeover offer from members of the Nordstrom family, calling the price “inadequate.”
The family group, including co-presidents Blake, Peter and Erik Nordstrom, offered $ 50 in cash for each share of the company that the family doesn’t own, plus the same price for about 21 percent of the company that individual family members own. In total, the family members — who are decedents of founder John W. Nordstrom — own about a 30 percent stake in the company, according to FactSet.See the rest of the story at Business Insider
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