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Joele Frank handles Nordstrom as the Seattle-based department store chain agrees to be acquired by the founding family and Mexico retailer El Puerto de Liverpool in a $6.3B deal.
The $24.45 per-share takeover price is a 42 percent premium to what it was on March 18, the day the media began speculating about the transaction.
Eric Sprunk, who chaired a special committee of Nordstrm’s board, said the transaction “offers greater vale for all public shareholders at a significant premium.”
Erik Nordstrom, CEO, said his family looks forward to "working with our teams to ensure Nordstrom thrives long into the future.”
The deal is expected to close during the first half of 2025 following the approval of two-thirds of the company’s stock and the majority of shares not owned by the Nordstrom family.
El Puerto de Liverpool operates 310 Liverpool and Suburbia stores, as well as 29 shopping centers in Mexico. It has more than 7.6M credit card holders that account for 47 percent of sales transactions.
Joele Frank, Wilkinson Brimmer Katcher’s Adam Pollack and Tim Ragones are fielding media calls regarding the Nordstrom takeover.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
