(Bloomberg) -- Nordstrom is rejecting the family group’s buyout proposal after determining the $50/share price to be "inadequate.”
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- The retailer’s special committee has told its advisers and management not to give further due diligence information to the Nordstrom family group
- Nordstrom says the special committee plans to end talks unless the family group can promptly and substantially improve the price it is proposing to pay for the retailer
- NOTE: March 1, Nordstrom Family Seen Struggling to Get Financing: NYP (Feb. 28)
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Link to Statement: Special Committee of Nordstrom Board Announces the Receipt and Rejection of an Indicative Proposal to Acquire the Company
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