Nordstrom's stock increases 9.4% as the company explores going private with the help of investment banks.

Nordstrom's stock rose 9.4% on Tuesday as reports suggest the department store chain is exploring options to go private. The founding family has engaged investment banks Morgan Stanley and Centerview Partners to reach out to private equity firms to gauge their interest in a potential deal. Nordstrom shares declined earlier this month following disappointing guidance and concerns over revenue decline. Prior attempts to go private in 2018 were unsuccessful due to high interest rates demanded by potential lenders.

March 19, 2024
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