Form 4: Nordstrom Completes Merger, Common Stock Delisted from NYSE

Nordstrom Inc. has completed its merger with Nordstrom Holdings, Inc., resulting in the company becoming a wholly-owned subsidiary and its common stock being delisted from the New York Stock Exchange.

Summary

• Nordstrom Inc. has completed its merger with Nordstrom Holdings, Inc. (formerly Norse Holdings, Inc.).
• The merger was executed through Navy Acquisition Co. Inc., which merged into Nordstrom, with Nordstrom surviving as a wholly-owned subsidiary of the Parent company.
• As a result of the merger, Nordstrom's common stock will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934.
• Reporting Person Charles W. Riley, Jr. transferred shares of Common Stock to Parent in exchange for newly issued shares of common stock of Parent.
• Shares of Common Stock were cancelled and converted into the right to receive $24.25 per share in cash.

Sentiment

Score: 7

Explanation: The document describes the completion of a merger, which is a significant corporate event. The sentiment is neutral as it primarily reports facts, but the completion of the merger at a defined price is generally positive for shareholders receiving the cash consideration.

Positives

• The merger provides liquidity to shareholders at a price of $24.25 per share.

Negatives

• Nordstrom's common stock will no longer be publicly traded on the New York Stock Exchange.

Future Outlook

The company will operate as a wholly-owned subsidiary of Nordstrom Holdings, Inc.

Industry Context

Mergers and acquisitions are common in the retail industry as companies seek to consolidate, gain market share, or restructure their operations.

Stakeholder Impact

• Shareholders received $24.25 per share in cash.
• The company will operate as a private entity.

Key Dates

Keywords

Merger, Nordstrom, Delisting, NYSE, Shareholders, Acquisition