Why Nordstrom, Inc. Stock Plunged Today
Shares of Nordstrom Inc. (NYSE: JWN) were down 7.3% as of 12:30 p.m. EDT Monday following reports that talks to acquire the department store chain are "faltering."
Nordstrom first surprised investors in early June by announcing it was exploring the possibility of going private, with several members of the Nordstrom family forming a group to look at options for acquiring all outstanding shares of the company's common stock. According to The New York Post on Sunday, however, discussions to that end "are in danger of falling apart" as they still haven't secured financing for the deal.
IMAGE SOURCE: NORDSTROM.
Source: Fool.com
