• WATCH LIVE

    UNIFOR PRESIDENT ON FORD NEGOTIATIONS
  • BREAKING

    UNIFOR ANNOUNCES TENTATIVE AGREEMENT WITH FORD
  • BREAKING

    UNIFOR'S DIAS: FORD TO INVEST $1.95B IN OAKVILLE, WINDSOR PLANTS
  • BREAKING

    DIAS: OAKVILLE PLANT TO BE RETOOLED TO BUILD FIVE ELECTRIC VEHICLE MODELS
  • BREAKING

    DIAS: WE HIT A "HOME RUN" ON OAKVILLE PLANT INVESTMENTS
  • BREAKING

    DIAS: AGREEMENT WILL GO TO MEMBER VOTE ON SUNDAY
  • BREAKING

    DIAS: CONFIDENT SETTLEMENTS CAN BE REACHED WITH GM, CHRYSLER
  • BREAKING

    DIAS CONFIRMS NEGOTIATIONS WITH FIAT CHRYSLER WILL BEGIN NEXT
  • BREAKING

    DIAS: PANDEMIC CREATED CHALLENGES BUT WASN'T DETERMINING FACTOR IN TALKS
  • BREAKING

    DIAS: GOVERNMENT IS STEPPING UP, UNDERSTAND IMPORTANCE OF AUTO INDUSTRY
  • WATCH LIVE

    SUPREME COURT HEARING ON CARBON TAX

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Jul 31, 2019

Nordstrom jumps on report founding family seeking to boost stake

The Nordstrom store is seen at a mall in a Denver suburb May 16, 2008.

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Nordstrom Inc. shares surged the most in nearly a year following a Wall Street Journal report that members of the founding family are in talks to increase their stake in the retail chain.

Nordstrom family members are in the early stages of talks, the Journal reported, citing people familiar with the matter. One possibility would be for the family to buy back shares at a premium, the Journal said, attributing the information to one of the people.

The shares rose as much as 11 per cent to US$33.92 -- the biggest intraday gain since last August. The stock has lost almost a third of its value this year, making it more attractive to the family.

A family-led buyout offer of US$50 a share was spurned last year, with independent directors saying the price was too low. The family has sought to take the company private in order to orchestrate turnaround plans outside the glare of public markets, which haven’t been kind to brick-and-mortar retailers in recent years.

A Nordstrom spokeswoman declined to comment.