Nordstrom family offers to take department store private for $3.76 billion with Mexican retail group

Members of the Nordstrom family are teaming up with a Mexican retail group and are offering to take the department store retailer private at $23 per share cash, months after first expressing interest in a buyout. The Mexican retail group, called El Puerto de Liverpool, operates more than 300 stores in Mexico and is that nation’s third-largest credit card issuer with over 7.2 million active accounts. The Nordtrom family members and Liverpool own a combined 43% of Nordstrom stock. The current president and chief executive of Nordstrom are the fourth generation of the family to lead the Seattle-based chain.