Nordstrom, Inc. (NYSE:JWN)'s founding family is interested in taking the department store chain private, the company announced on Friday.
Upon interest in a go-private deal from CEO Erik Nordstrom and president Pete Nordstrom, the company said it has created a special committee of independent directors to evaluate this avenue.
The company has engaged Morgan Snately and Centerview Partners as financial advisors and Sidley Austin and Perkins Coie as legal counsel.
This comes six years after a similar attempt from the Nordstrom family, who own about a 30% stake in the retailer, to take the brand private failed.
A special committee put together to consider the family’s proposal in 2018 rejected an “inadequate” $8.4 billion takeover deal.
Shares of Nordstrom traded up 1.3% at just shy of $19 shortly before Friday’s opening bell, valuing the company at about $3 billion.