Nordstrom has announced a $6.25 billion buyout by its founding family and Mexican retailer El Puerto de Liverpool, transitioning to private ownership. Shareholders will receive $24.25 per share, a 42% premium, while the Nordstroms will hold a 50.1% stake. The deal comes as department stores face significant competition from discount retailers, and aims to provide the family more freedom to revitalize the brand without public scrutiny. The transaction is anticipated to close in the first half of 2025, following a longstanding effort to go private.