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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.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
Uber’s Mike Lucarelli is moving to NXP Semiconductors as senior VP-investor relations.
