Nordstrom spikes on report it's finalizing plans to go private

Stock Market1 min read

Markets Insider

• Shares of Nordstrom spiked as much as 6% to more than $53 Friday after a Reuters report said management was finalizing plans to take the luxury retailer private before it releases earnings on March 1.
• The Nordstrom family, which owns 31.2% of the company's shares, according to regulatory filings, has been working for months to take the company private again, but the report Friday citing anonymous sources is the closest yet to a final deal.
• Shares have gained 15% in the past year.

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