The Board of Nordstrom department stores rejected the US$8 billion buyout offer from the founding family partnered with Leonard Green & Partners. The takeover offer was estimated as too low. As part of the deal, the private equity firm would buy 21% of the family’s stake, allowing the heirs to cash around US$550 million. The founder’s two grandchildren Bruce Nordstrom (former C.E.O. of Nordstrom), Anne Gittinger and their respective children own about 30% of the capital. This is a f
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