Nordstrom shares up 11% on report retailer is near deal to go private


Shares of Nordstrom Inc.
JWN, +0.74% jumped in the extended session Tuesday following a report that the retailer is taking steps to go private.
Nordstrom shares, which jumped more than 10% following the report, were last up 7.7% at $48.52 after hours, following a 0.7% rise in the regular session.
Late Tuesday, CNBC reported that Nordstrom family members were close to choosing private-equity firm Leonard Green & Partners to help fund about $1 billion for a buyout.
At the close, Nordstrom had a market cap of $7.49 billion.
The Nordstrom family is reportedly talking to banks to secure up to $8 billion to finance the deal.
Nordstrom family members own just over 30% of outstanding shares, according to FactSet.
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