Nordstrom spikes on report it’s finalizing plans to go private

Markets Insider

  • Shares of Nordstrom spiked as much as 6% to more than $53 Friday after a Reuters report said management was finalizing plans to take the luxury retailer private before it releases earnings on March 1.
  • The Nordstrom family, which owns 31.2% of the company’s shares, according to regulatory filings, has been working for months to take the company private again, but the report Friday citing anonymous sources is the closest yet to a final deal.
  • Shares have gained 15% in the past year.