Nordstrom family offers $3.8B to take upscale department-store chain private

The Nordstrom family offered $3.8 billion to take the company private — a steep discount from a bid it made six years earlier as department stores continue to get slammed by dwindling mall traffic. Brothers Erik and Pete Nordstrom – chief executive and president, respectively – are joining with Mexican department store chain El Puerto de Liverpool to offer$23 a share in cash to acquire all of the outstanding shares of the company. The fresh takeout bid, revealed in a securities filing on Wednesday, values ...