Ballard Spahr represented Nordstrom Family Group in the $6.25 billion go-private transaction of iconic Seattle retailer Nordstrom, Inc.
In the transaction, which closed on May 20, 2025, Nordstrom, Inc. completed a definitive merger agreement under which a consortium led by the Nordstrom family and El Puerto de Liverpool—a Mexican omnichannel retailer with a leading presence in department stores and a robust e-commerce platform—acquired all outstanding shares not already owned by the Nordstrom family for $24.25 per share in cash, with a special dividend in the amount of $0.25 per share. Following the closing, Nordstrom ceased trading on the NYSE. The Nordstrom family now holds a 50.1% interest in the company, with Liverpool holding the remaining 49.9%. The transaction was structured as an all-cash merger and approved by a supermajority of disinterested shareholders in mid-May. The buyer group obtained committed financing from a syndicate of banks to fund the acquisition.
Corporate Partner Michael E. Morgan led the deal team. He was supported by Partners Callie Castillo, Thomas F. Grohman, and Heidi L.G. Orr,; Senior Counsels Gary M. Kirk and Joan Robinson; and Associates Daniel Goodman and Kai A. Subic-Skattum.
For further information, please see Nordstrom’s press release.
On January 1, 2025, Ballard Spahr combined with Lane Powell, gaining more than 150 new attorneys and offices in Anchorage, Portland, and Seattle.
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