Nordstrom announced Thursday morning it’s exploring a “going private” transaction by the Nordstrom family after forming a special committee to consider such a deal.
Shares of the retailer’s stock soared more than 20 percent at one point Thursday morning following this news.
In a filing with the Securities and Exchange Commission, the department store operator said the group has not yet made a formal proposal regarding such a private transaction.
Nordstrom did not immediately respond to an additional request for comment.
The retailer explained that Co-Presidents Blake Nordstrom, Peter Nordstrom and Erik Nordstrom, along with President of Stores James Nordstrom and Chairman Emeritus Bruce Nordstrom, and Anne Gittinger, are a part of the recently formed exploratory group.
The largest insider shareholders in the company include Bruce Nordstrom, with a 15.24 percent stake; Anne Gittinger, with a 9.23 percent stake; Blake Nordstrom, who owns 1.58 percent of shares; and Peter Nordstrom and Erik Nordstrom, who both own 1.55 percent of shares, according to FactSet.
Nordstrom said Thursday it has retained Centerview Partners to serve as its financial advisor and Sidley Austin to serve as its legal counsel.
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