M - Nordstrom's Potential Privatization Entices Equity Firm Sycamore: Report | Benzinga
Sycamore Partners, a prominent buyout equity firm, has reportedly emerged as one of the contenders expressing interest in privatizing the renowned U.S. department store Nordstrom Inc (NYSE:JWN).
Recently, Nordstrom’s CEO Erik Nordstrom and his brother Pete, who serves as the company’s president, confirmed their exploration of privatization options.
Negotiations are expected to span several weeks, with no guarantee of a deal with Sycamore or any other potential private equity buyer, according to a report from Reuters.
Following the news, Nordstrom’s shares surged by 6% on the New York Stock Exchange on Thursday, reflecting a market value of approximately $3.3 billion.
Notably, Nordstrom carries a ...