(Reuters) – Nordstrom’s founding family has made a bid to take the department store chain private by offering $23 per share in cash for the stake they do not already own, a filing showed on Wednesay.
The company’s board had in April formed a special committee of independent directors to evaluate any proposal.
A group led by Erik and Peter Nordstrom sent a non-binding letter to the committee proposing a transaction whereby they would form a new entity to buy the department store chain.
(This story has been refiled to correct syntax in the headline)
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shilpi Majumdar and Arun Koyyur)