Nordstrom, Inc. (NYSE:JWN) shares are trading higher on Thursday. Goldman Sachs analyst Brooke Roach comments on the recent news of Nordstrom’s acquisition proposal by the Nordstrom family and El Puerto de Liverpool.
On Wednesday, the Nordstrom founding family made an offer to take the company private by acquiring all outstanding shares they do not already own for $23 per share in cash.
The Nordstrom family group reportedly sent a non-binding letter to the special committee proposing a transaction that involves forming a new entity to buy the department store chain.
The Nordstrom family had earlier made attempts to take the company private.
The recent effort comes about six years after the founding family’s previous attempt to take the U.S. department store operator private.
The analyst writes that real estate value is a key consideration, as evidenced by past department store transactions, such as the recently ended talks between Macy’s and an investor buyout group.
The analyst forecasts EPS of $1.98 in FY25, $2.05 in FY26, and $2.09 in FY27.
Last month, Nordstrom reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 71 cents by 35.21%.
Investors can gain exposure to the stock via Invesco Exchange-Traded Fund Trust II Invesco S&P Ultra Dividend Revenue ETF (NYSE:RDIV) and Invesco S&P Midcap 400 Pure Value ETF (NYSE:RFV).
Price Action: JWN shares are up 0.24% at $22.84 at the last check Thursday.
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