BETA
THIS IS A BETA EXPERIENCE. OPT-OUT&nbspHERE

Breaking

4 hours ago
Cory Booker Breaks Record With 25-Hour Speech Blasting Trump","scope":{"topStory":{"index":1,"title":"Cory Booker Breaks Record With 25-Hour Speech Blasting Trump","image":"https://specials-images.forbesimg.com/imageserve/67ec75bd534c6d2d7b2ac3f3/290x0.jpg?cropX1=0&cropX2=2100&cropY1=108&cropY2=1289","isHappeningNowArticle":true,"date":"4 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/04/02/cory-booker-breaks-record-with-25-hour-speech-blasting-trump-heres-why/"}},"id":"9ggc4lmkoio000"},{"textContent":"
7 hours ago
Wisconsin Supreme Court Election: Susan Crawford Beats Elon Musk-Backed Brad Schimel","scope":{"topStory":{"index":2,"title":"Wisconsin Supreme Court Election: Susan Crawford Beats Elon Musk-Backed Brad Schimel","image":"https://specials-images.forbesimg.com/imageserve/67eccf57dde841697e9dc2cb/290x0.jpg?cropX1=254&cropX2=952&cropY1=63&cropY2=456","isHappeningNowArticle":true,"date":"7 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2025/04/02/wisconsin-supreme-court-election-susan-crawford-beats-elon-musk-backed-brad-schimel/"}},"id":"cndjmabf827c00"},{"textContent":"
12 hours ago
Florida Special Elections: Republicans Win Gaetz And Waltz’s Seats","scope":{"topStory":{"index":3,"title":"Florida Special Elections: Republicans Win Gaetz And Waltz’s Seats","image":"https://specials-images.forbesimg.com/imageserve/67ec72b97e8fce0e90a2c37a/290x0.jpg?cropX1=0&cropX2=4134&cropY1=0&cropY2=2756","isHappeningNowArticle":true,"date":"12 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/04/01/florida-special-elections-republican-turnout-higher-than-democrats-as-polls-close/"}},"id":"e4li5i67rek000"},{"textContent":"
15 hours ago
Elon Musk’s PAC Gave $1 Million To College Republican Leader In Wisconsin Giveaway—Why That Might Not Be A Coincidence","scope":{"topStory":{"index":4,"title":"Elon Musk’s PAC Gave $1 Million To College Republican Leader In Wisconsin Giveaway—Why That Might Not Be A Coincidence","image":"https://specials-images.forbesimg.com/imageserve/67ec55bdef25b4af2f655d4b/290x0.jpg?cropX1=0&cropX2=673&cropY1=67&cropY2=446","isHappeningNowArticle":true,"date":"15 hours ago","uri":"https://www.forbes.com/sites/alisondurkee/2025/04/01/elon-musks-pac-gave-1-million-to-college-republican-leader-in-wisconsin-giveaway-why-that-might-not-be-a-coincidence/"}},"id":"elgka6a2hgq800"},{"textContent":"
16 hours ago
White House Doubles Down On Erroneous Deportation Of Maryland Dad","scope":{"topStory":{"index":5,"title":"White House Doubles Down On Erroneous Deportation Of Maryland Dad","image":"https://specials-images.forbesimg.com/imageserve/67ec4b2d715438df038934f0/0x0.jpg","isHappeningNowArticle":true,"date":"16 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/white-house-doubles-down-on-erroneous-deportation-of-maryland-dad/"}},"id":"dg4981jjcohk00"},{"textContent":"
16 hours ago
Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches","scope":{"topStory":{"index":6,"title":"Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches","image":"https://specials-images.forbesimg.com/imageserve/67ea8b9eddb6c171bd36b99d/290x0.jpg?cropX1=222&cropX2=1048&cropY1=324&cropY2=788","isHappeningNowArticle":true,"date":"16 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/forbes-recession-tracker-recession-odds-spike-as-trumps-tariff-liberation-day-approaches/"}},"id":"3elc5dmabo0400"},{"textContent":"
17 hours ago
Newsmax More Valuable Than Fox After Shares Surge 180%","scope":{"topStory":{"index":7,"title":"Newsmax More Valuable Than Fox After Shares Surge 180%","image":"https://specials-images.forbesimg.com/imageserve/67ec32fcc1b31f6a56040aa2/290x0.jpg?cropX1=0&cropX2=4017&cropY1=0&cropY2=2259","isHappeningNowArticle":true,"date":"17 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2025/04/01/newsmax-shares-surge-150-after-volatile-ipo-as-market-cap-doubles/"}},"id":"7d539kq7moe000"},{"textContent":"
17 hours ago
Kennedy Fires Thousands Across Health Agencies: Food Regulation, HIV Prevention, Infectious Disease Offices All Affected","scope":{"topStory":{"index":8,"title":"Kennedy Fires Thousands Across Health Agencies: Food Regulation, HIV Prevention, Infectious Disease Offices All Affected","image":"https://specials-images.forbesimg.com/imageserve/62499fdeb85d6719dc85cb1a/290x0.jpg","isHappeningNowArticle":true,"date":"17 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/kennedy-fires-thousands-across-health-agencies-food-regulation-hiv-prevention-infectious-disease-offices-all-affected/"}},"id":"d2o75217rrkg00"},{"textContent":"
18 hours ago
Bill Gates’ Daughter Phoebe Launches Podcast Under Alex Cooper’s Unwell Network","scope":{"topStory":{"index":9,"title":"Bill Gates’ Daughter Phoebe Launches Podcast Under Alex Cooper’s Unwell Network","image":"https://specials-images.forbesimg.com/imageserve/67ec2ed8015f34e05a152858/290x0.jpg?cropX1=0&cropX2=3682&cropY1=103&cropY2=2176","isHappeningNowArticle":true,"date":"18 hours ago","uri":"https://www.forbes.com/sites/conormurray/2025/04/01/bill-gates-daughter-phoebe-launches-podcast-under-alex-coopers-unwell-network/"}},"id":"8dcjejhjb3qg00"},{"textContent":"
18 hours ago
Americans Are Pulling Back On Travel Spending In 2025, New Data Shows","scope":{"topStory":{"index":10,"title":"Americans Are Pulling Back On Travel Spending In 2025, New Data Shows","image":"https://specials-images.forbesimg.com/imageserve/67ec010860b8c16390869ea0/290x0.jpg?cropX1=0&cropX2=4664&cropY1=0&cropY2=2626","isHappeningNowArticle":true,"date":"18 hours ago","uri":"https://www.forbes.com/sites/suzannerowankelleher/2025/04/01/americans-pulling-back-travel-spending-in-2025/"}},"id":"969fapgj631400"},{"textContent":"
19 hours ago
Measles Outbreak: More Than 420 Cases In Texas As Colorado Reports First Infection Since 2023","scope":{"topStory":{"index":11,"title":"Measles Outbreak: More Than 420 Cases In Texas As Colorado Reports First Infection Since 2023","image":"https://specials-images.forbesimg.com/imageserve/67b8dc34f003eb75b733dff5/290x0.jpg?cropX1=0&cropX2=3039&cropY1=0&cropY2=2027","isHappeningNowArticle":true,"date":"19 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/04/01/measles-outbreak-more-than-420-cases-in-texas-as-colorado-reports-first-infection-since-2023/"}},"id":"4nkkrbnrghi000"},{"textContent":"
20 hours ago
Tesla Could See Its Worst Quarterly Growth In Years As Deliveries Data Looms","scope":{"topStory":{"index":12,"title":"Tesla Could See Its Worst Quarterly Growth In Years As Deliveries Data Looms","image":"https://specials-images.forbesimg.com/imageserve/67ec1399ab9079224ba76b9d/290x0.jpg?cropX1=0&cropX2=2457&cropY1=27&cropY2=1410","isHappeningNowArticle":true,"date":"20 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/tesla-could-see-it-worst-quarterly-growth-in-years-as-deliveries-data-looms/"}},"id":"31810km9rddo00"},{"textContent":"
21 hours ago
Attorney General Bondi Calls For Death Penalty Against Luigi Mangione","scope":{"topStory":{"index":13,"title":"Attorney General Bondi Calls For Death Penalty Against Luigi Mangione","image":"https://specials-images.forbesimg.com/imageserve/67ec0742d8e8e647a9432054/290x0.jpg?cropX1=0&cropX2=2789&cropY1=0&cropY2=1567","isHappeningNowArticle":true,"date":"21 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/04/01/attorney-general-bondi-calls-for-death-penalty-against-luigi-mangione/"}},"id":"2490j6gnon7m00"},{"textContent":"
22 hours ago
Nike To Settle Sexual Discrimination Lawsuit Hanging Over Its Head Since 2018","scope":{"topStory":{"index":14,"title":"Nike To Settle Sexual Discrimination Lawsuit Hanging Over Its Head Since 2018","image":"https://specials-images.forbesimg.com/imageserve/67ebe6ceee2b02b8e7cd69e7/290x0.jpg?cropX1=0&cropX2=2472&cropY1=127&cropY2=1518","isHappeningNowArticle":true,"date":"22 hours ago","uri":"https://www.forbes.com/sites/pamdanziger/2025/04/01/nike-to-settle-sexual-discrimination-lawsuit-hanging-over-its-head-since-2018/"}},"id":"1rqm8irlg2fm00"},{"textContent":"
23 hours ago
Trump Approval Rating Tracker: Americans Dissatisfied With Tariffs","scope":{"topStory":{"index":15,"title":"Trump Approval Rating Tracker: Americans Dissatisfied With Tariffs","image":"https://specials-images.forbesimg.com/imageserve/62499fdeb85d6719dc85cb1a/290x0.jpg","isHappeningNowArticle":true,"date":"23 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/trump-approval-rating-tracker-americans-dissatisfied-with-tariffs/"}},"id":"6kigimee11a400"},{"textContent":"
23 hours ago
Trump Reportedly Targets 20% Tariffs As Europe Threatens Retaliation: Here’s What To Know As ‘Liberation Day’ Looms","scope":{"topStory":{"index":16,"title":"Trump Reportedly Targets 20% Tariffs As Europe Threatens Retaliation: Here’s What To Know As ‘Liberation Day’ Looms","image":"https://specials-images.forbesimg.com/imageserve/67ebdf0a776f957aefce7a32/290x0.jpg?cropX1=515&cropX2=3110&cropY1=1&cropY2=1462","isHappeningNowArticle":true,"date":"23 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/trump-reportedly-targets-20-tariffs-as-europe-threatens-retaliation-heres-what-to-know-as-liberation-day-looms/"}},"id":"dmhk285ehp6o00"},{"textContent":"
23 hours ago
Florida’s Special House Elections Today: What To Watch In These Tests Of Trump’s Second Term","scope":{"topStory":{"index":17,"title":"Florida’s Special House Elections Today: What To Watch In These Tests Of Trump’s Second Term","image":"https://specials-images.forbesimg.com/imageserve/67eabf86e9158f8c139bc9b3/0x0.jpg","isHappeningNowArticle":true,"date":"23 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/floridas-special-house-elections-today-what-to-watch-in-these-tests-of-trumps-second-term/"}},"id":"6apncfdf6em400"},{"textContent":"
23 hours ago
What To Know About The Switch 2 As Nintendo Readies Its First Console Launch In 8 Years","scope":{"topStory":{"index":18,"title":"What To Know About The Switch 2 As Nintendo Readies Its First Console Launch In 8 Years","image":"https://specials-images.forbesimg.com/imageserve/67ebe2b1c8a5b28326757c06/290x0.jpg?cropX1=0&cropX2=1675&cropY1=86&cropY2=1028","isHappeningNowArticle":true,"date":"23 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2025/04/01/what-to-know-about-the-switch-2-as-nintendo-readies-its-first-console-launch-in-8-years/"}},"id":"23bifcce3a8400"},{"textContent":"
24 hours ago
Wisconsin Supreme Court Race: Why Elon Musk And Fellow Billionaires Are Spending Millions On Today’s Election","scope":{"topStory":{"index":19,"title":"Wisconsin Supreme Court Race: Why Elon Musk And Fellow Billionaires Are Spending Millions On Today’s Election","image":"https://specials-images.forbesimg.com/imageserve/67ea9a19b2640e99087b7005/290x0.jpg?cropX1=180&cropX2=1742&cropY1=392&cropY2=1271","isHappeningNowArticle":true,"date":"24 hours ago","uri":"https://www.forbes.com/sites/alisondurkee/2025/04/01/wisconsin-supreme-court-race-why-elon-musk-and-fellow-billionaires-are-spending-millions-on-todays-election/"}},"id":"5mhd1k84q3ic00"},{"textContent":"
+1 day ago
Musk Says He Sent $2.5 Million To Influencer Who Claims She Had His 13th Child—Here’s What To Know","scope":{"topStory":{"index":20,"title":"Musk Says He Sent $2.5 Million To Influencer Who Claims She Had His 13th Child—Here’s What To Know","image":"https://specials-images.forbesimg.com/imageserve/67ebd7fc1a003d7f5c97b4c8/290x0.jpg?cropX1=0&cropX2=2266&cropY1=100&cropY2=1375","isHappeningNowArticle":true,"date":"+1 day ago","uri":"https://www.forbes.com/sites/siladityaray/2025/04/01/musk-says-he-sent-25-million-to-influencer-who-claims-she-had-his-13th-child-heres-what-to-know/"}},"id":"2bhkqc4pe0l400"},{"textContent":"
+1 day ago
Judge Temporarily Blocks Trump Administration From Removing Venezuelan Migrant Protections","scope":{"topStory":{"index":21,"title":"Judge Temporarily Blocks Trump Administration From Removing Venezuelan Migrant Protections","image":"https://specials-images.forbesimg.com/imageserve/67eb241c8ebefc85def01cfd/290x0.jpg?cropX1=0&cropX2=1944&cropY1=0&cropY2=1296","isHappeningNowArticle":true,"date":"+1 day ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/03/31/judge-temporarily-blocks-trump-administration-from-removing-venezuelan-migrant-protections/"}},"id":"1qmc5l422ira00"}],"breakpoints":[{"breakpoint":"@media all and (max-width: 767px)","config":{"enabled":false}},{"breakpoint":"@media all and (max-width: 768px)","config":{"inView":2,"slidesToScroll":1}},{"breakpoint":"@media all and (min-width: 1681px)","config":{"inView":6}}]};
Edit Story

Nordstrom Brothers Make Bid To Buy Back Nordstrom Department Store Chain

Following

Topline

Brothers Erik and Peter Nordstrom submitted an offer to take private the eponymous retail giant Nordstrom, the company confirmed Wednesday morning, potentially bringing the multibillion-dollar department store chain founded by their great-grandfather in 1901 back into family control.

Key Facts

Erik Nordstrom, the company’s chief executive officer, and Peter Nordstrom, its president, lead a family coalition to take a 50.1% stake in Nordstrom, according to Bloomberg, with remaining shares proposed to be held by Mexican chain El Puerto de Liverpool in a joint move.

The Seattle-based company Nordstrom said the proposal is under review by an “independent and disinterested” committee of its board of directors presumably excluding the brothers.

The Nordstrom family and El Puerto de Liverpool offer would purchase shares not held by either group for $23, less than 1% above Nordstrom’s $22.82 closing share price Tuesday, though it’s a roughly 35% premium to when reports first circulated about a take-private bid in March, a standard premium for similar transactions.

Shares of Nordstrom were roughly flat in morning trading, perhaps not a surprise considering the stock’s 34% rally over the five months between the initial report and the official filing.

Key Background

The deal values Nordstrom at about $3.8 billion, just above its $3.7 billion market capitalization. It’s a far cry from when the company’s valuation peaked at more than $15 billion in 2015 as many publicly traded, brick-and-mortar retailers underperformed the broader market. Erik and Peter Nordstrom’s father, Bruce Nordstrom, died in May at 90 years old, having overseen the company’s initial public offering in 1971 at a split-adjusted price of less than $0.40 per share. Other Nordstrom family members involved in the proposed acquisition include Bruce Nordstrom’s sister Anne Gittinger, his widow Margaret Jean O’Roark Nordstrom and Erik Nordstrom’s children Leigh, Samuel and Sara Nordstrom, according to a filing with the Securities and Exchange Commission. The Nordstrom family last appeared on Forbes’ list of America’s richest families in 2015 with a $3.8 billion net worth.

Follow me on Twitter or LinkedInSend me a secure tip

Join The Conversation

Comments 

One Community. Many Voices. Create a free account to share your thoughts. 

Read our community guidelines .

Forbes Community Guidelines

Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.

In order to do so, please follow the posting rules in our site's Terms of Service.  We've summarized some of those key rules below. Simply put, keep it civil.

Your post will be rejected if we notice that it seems to contain:

  • False or intentionally out-of-context or misleading information
  • Spam
  • Insults, profanity, incoherent, obscene or inflammatory language or threats of any kind
  • Attacks on the identity of other commenters or the article's author
  • Content that otherwise violates our site's terms.

User accounts will be blocked if we notice or believe that users are engaged in:

  • Continuous attempts to re-post comments that have been previously moderated/rejected
  • Racist, sexist, homophobic or other discriminatory comments
  • Attempts or tactics that put the site security at risk
  • Actions that otherwise violate our site's terms.

So, how can you be a power user?

  • Stay on topic and share your insights
  • Feel free to be clear and thoughtful to get your point across
  • ‘Like’ or ‘Dislike’ to show your point of view.
  • Protect your community.
  • Use the report tool to alert us when someone breaks the rules.

Thanks for reading our community guidelines. Please read the full list of posting rules found in our site's Terms of Service.