Nordstrom, Inc JWN 11.31% shares were up 23 percent in Thursday’s pre-market session after announcing members of the Nordstrom family have formed a group to explore pursuing a go-private deal involving the group buying 100 percent of outstanding shares.
The spike put Nordstrom shares at their highest price since May 11, hovering around $46.
The group has not yet made an offer to the company, which said that it couldn’t make any assurances regarding a potential transaction.
Sympathetic Moves Seen
The SPDR S&P Retail (ETF) XRT 0.12% was also trading slightly higher.
Retail Weighs Options
Several retailers have considered pursuing similar moves after facing increasingly harsh competition in the last few years.