The Nordstrom family currently holds about 33.4% of the company's outstanding stock, while El Puerto de Liverpool owns nearly 10%.

Nordstrom is considering a buyout proposal valued at approximately $3.8 billion from its founding family, Erik and Peter Nordstrom, in partnership with Mexican retailer El Puerto de Liverpool.

The Nordstrom family has made a takeover offer of $23 per share, which represents a nearly 35% premium compared to the stock price since media reports about the potential transaction began.

Nordstrom's board is focused on enhancing shareholder value and will assess whether any bids align with the best interests of the company and its stakeholders.

This interest in privatization has led Nordstrom's board to form a special committee of independent directors to evaluate the proposal.

The buyout would be financed through a combination of rollover equity, cash contributions from the Nordstrom family and Liverpool, and a new $250 million bank loan.

The potential acquisition comes at a challenging time for department stores, as many brands are shifting their focus to online channels and their own retail operations.

However, there are no guarantees that the buyout proposal will be accepted or finalized, as the board has not committed to it yet.

Analysts view the offer as a fair reflection of the current operational environment and the company's long-term growth potential.

Despite reporting a 3.4% sales growth in the second quarter, Nordstrom's net income fell nearly 11%, prompting the need for strategic changes.

This is not the first time Nordstrom has explored going private; previous discussions occurred in 2018 and resumed earlier this year.

Following the announcement of the takeover offer, shares of Nordstrom fell by 1% in premarket trading.