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Nordstrom suspends its plan to go private

Nordstrom suspends its plan to go private

An effort to take Nordstrom Inc. private has halted, at least temporarily.

In June, members of the Nordstrom family — including company co-Presidents Blake, Peter and Erik Nordstrom — said they were thinking about acquiring the approximately 70% of the stock they don't already own. Going private could give the upscale retailers more flexibility to navigate a rapidly changing retail environment.

In recent weeks, reports have said the Nordstrom group was in discussions with private equity firms that might have supplied some of the funding.

But on Monday, the Seattle company said the Nordstrom family members have stopped actively exploring a path to take it private. They...

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