Nordstrom to Go Private in Major Acquisition Deal

In a landmark decision, Nordstrom, the iconic department store chain, is set to go private through a deal spearheaded by the Nordstrom family and a Mexican retail group. The Nordstrom board has approved the agreement, which offers shareholders over $24 per share, along with a special dividend of up to 25 cents per share. The move is expected to close before summer next year and is seen as a strategic effort to revitalize the century-old retailer in the face of mounting competition from online shopping platforms.

The decision comes. . .