Nordstrom rejects takeover offer from Nordstrom family

Special committee of the Norstrom board has rejected the indicative acquisition offer made by a group consisting of members of the Nordstrom family – company Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, President of Stores James F. Nordstrom, Chairman Emeritus Bruce A. Nordstrom, and Anne E. Gittinger. The family had approached the board with a proposal to purchase all of the outstanding shares of common stock of the company and around 21 percent of the shares owned by the Nordstrom family members in the group, for 50 dollars per share in cash.