Nordstrom, Inc. (NYSE:JWN) shares are trading lower. The company on Monday announced that the Nordstrom Family and Liverpool will acquire all outstanding common shares of Nordstrom.

What To Know: Nordstrom said it signed a definitive agreement under which Erik, Pete, Jamie, other members of the Nordstrom family and Liverpool will acquire all shares not already owned by the parties in an all-cash transaction valued at approximately $6.25 billion on an enterprise basis.

Under terms of the agreement, Nordstrom shareholders will receive $24.25 per share in cash, representing a premium of approximately 42% over the company's share price as of March 18. Nordstrom said March 18 was the last day its stock traded unaffected by media speculation.

The deal will also include a special dividend of up to 25 cents per share contingent on the transaction's closing. The acquisition will result in Nordstrom becoming a private company. Following the close, the Nordstrom Family will own 50.1% of the company, with Liverpool holding 49.9%.

The Nordstrom Board has unanimously approved the proposed transaction upon the unanimous recommendation of a special committee of independent and disinterested directors that led the review and negotiation of this transaction.

"Following a rigorous and independent evaluation and consultation with outside financial and legal advisors, the special committee unanimously concluded that this transaction offers greater value for all public shareholders at a significant premium to the unaffected share price," said Eric Sprunk, chairman of the special committee.

JWN Price Action: Nordstrom shares were down 1.55% at $24.15 at the time of publication Monday, according to Benzinga Pro.

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