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Why Nordstrom, Inc. Stock Plunged Today

TheMotleyFool

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Why Nordstrom, Inc. Stock Plunged TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png

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