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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.
FTI Consulting’s Alex Miehls has joined Teneo as managing director in its strategy and communications unit.
SKDK and ICR handle Intra-Cellular Therapies as it is getting acquired by Johnson & Johnson for $14.6B.
FGS Global represents Energy Capital Partners, which is selling Calpine Corp. to Constellation Energy Corp. for $16.4B in cash and stock.
Ted McHugh, who was most recently managing director, head of strategic situations and investor relations at Edelman Smithfield, joins advisory and investing platform Consello as senior managing director.
Collected Strategies represents Forward Air Corp. as the Tennessee-based freight forwarding company reviews its strategic options.
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