Nordstrom shares are trading higher following a report suggesting the company's founding family is working with Morgan Stanley and Centerview Partners in an attempt to potentially go private.
Portfolio Pulse from Benzinga Newsdesk
Nordstrom's stock price increased after reports emerged that the founding family is considering taking the company private, with assistance from Morgan Stanley and Centerview Partners.
March 19, 2024 | 1:42 pm
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POSITIVE IMPACT
Nordstrom's shares are experiencing an uptick following news that the founding family is exploring options to take the company private, potentially with the advisory services of Morgan Stanley and Centerview Partners.
The news of the founding family potentially taking Nordstrom private suggests a significant change in the company's ownership structure, which typically leads to an increase in stock price due to anticipated buyouts at a premium. The involvement of reputable financial advisors like Morgan Stanley and Centerview Partners adds credibility to the plans, further boosting investor confidence.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100