SEATTLE—Nordstrom Inc.'s board of directors confirmed Monday that talks to take the high-end retailer private have been suspended. The decision came from members of the Nordstrom family, and talks may be resumed after the holiday season.
GlobeSt.com reported in June that the Nordstrom family group, which owns 31.2% of the retailer, was considering the acquisition of all remaining shares of the company's stock. Last month, published reports said that the family was coming close to forging a partnership with Leonard Green & Partners.
CNBC reported in September that the private equity firm would take a minority stake of about $1 billion and help arrange up to $7 billion in financing. The debt as well as Leonard Green's stake reportedly would have been senior to the family group's equity.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
