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Jeannette Neumann | (TNS) Bloomberg News The Nordstrom family is joining forces with a Mexican retailer to take its namesake department store private in an all-cash transaction valued at about $6.25 billion, including debt. Related Articles Business | New shoplifting data explains why they’re locking up the toothpaste Business | Netflix is airing 2 NFL games on Christmas Day. Here’s what to know Business | Biden will decide on US Steel acquisition after influential panel fails to reach consensus Business | For some FSA dollars, it’s use it or lose it at year’s end Business | American Airlines flights resume at Bradley International Airport after FAA halts them The founding family is betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market after shares in Nordstrom Inc. plunged 40% in the last five years. During the same period, the S&P 500 rose 84%. As part of the transaction, which is expected to close in the first half of 2025, the family and Mexican department-store chain El Puerto de Liverpool SAB will acquire all of the outstanding common shares of Nordstrom. The Nordstrom family will have a majority ownership stake in the company of 50.1%, with Liverpool owning 49.9%. Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold under the terms of the agreement, the company said Monday. That’s roughly in line with where shares were trading on Monday. Shares in Nordstrom fell as much as 1.3% on Monday in New York. The company’s stock was up 33% so far this year as of Friday’s close as reports of a take-private deal boosted the stock price. The board’s acceptance of the offer underscores Nordstrom’s decline from its peak and its subdued growth prospects. In 2018, the board rejected the family’s bid to take the company private at $50 per share as too low. Nordstrom’s annual revenue, including income from credit cards, peaked at $15.9 billion in the fiscal year ended February 2019. The company was hit hard by Covid-19 and has never returned to its pre-pandemic highs. Nordstrom is expected to report $14.9 billion in total revenue at the end of the current fiscal year, according to a Bloomberg survey of analysts. Other department-store chains in the U.S. have also struggled as shoppers pivot to online competitors such as Amazon.com Inc., or brand-specific stores such as Louis Vuitton. Executives at Macy’s Inc., for example, are shrinking the company’s store fleet to cut costs, while the owners of Saks Fifth Avenue bought Neiman Marcus Group earlier this year. During the past couple of years, investors had hoped that Nordstrom Rack, its off-price chain, could help buoy the company’s growth prospects and compensate for sluggish sales at the more upscale flagship chain. Shoppers flocked to competitors such as TJ Maxx, seeking deals as inflation soared post-pandemic. But Rack’s performance has been spotty. It stumbled when executives tweaked their strategy and stopped offering as many high-end fashion brands at a discount. Rack reversed course and sales have bounced back. Company executives have focused on opening more Rack stores in recent quarters, boosting revenue. In November, Nordstrom raised the lower end of its annual sales guidance after revenue was better than expected at Rack and the flagship chain. But the outlook is still weak, highlighting the attraction of going private: The company is forecasting that annual sales, including credit-card revenues, will be flat to up 1% versus last year. The take-private deal will be financed through a combination of rollover equity by the Nordstrom family and Liverpool, cash commitments by Liverpool, up to $450 million in borrowings under a new $1.2 billion ABL bank financing, and company cash on hand. The board also intends to pay a special dividend of up to 25 cents a share in cash contingent on the deal closing. The transaction must be approved by holders of two-thirds of the company’s common stock shareholders and the holders of a majority of the shares not owned by the Nordstrom family or Liverpool. Erik and Peter Nordstrom, who are members of the company’s board, recused themselves from the vote, which unanimously approved the transaction. “On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future,” said Erik Nordstrom, chief executive officer of Nordstrom. Liverpool, run by descendants of a French shareholder group that dates back more than a century, is one of Mexico’s most important department store chains, with an ornate flagship location in the capital’s historic center. The $7 billion publicly-traded company has ventured beyond Mexico in recent years, acquiring a stake in Latin American retail operator Unicomer in 2011 and attempting unsuccessfully to acquire control of Chile’s Ripley SA in 2015 before turning its eyes to the U.S. with the Nordstrom investment. Max David Michel, part of Liverpool’s founding family and one of the richest people in the country, retired as head of Liverpool’s board earlier this year. (Updates to include what stock is trading at versus the offer price.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.A notable insider purchase on December 23, was reported by Neil E. de Crescenzo , Board Member at CCC Intelligent Solutions CCCS , based on the most recent SEC filing. What Happened: In a significant move reported in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday, Crescenzo purchased 100,000 shares of CCC Intelligent Solutions, demonstrating confidence in the company's growth potential. The total value of the transaction stands at $1,216,240. In the Tuesday's morning session, CCC Intelligent Solutions 's shares are currently trading at $12.16, experiencing a up of 2.36%. About CCC Intelligent Solutions CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, and AI-enabled digital workflows. The company generate revenue through the sale of software subscriptions and other revenue, primarily from professional services. The company has its presence in United States and China. Majority of the revenue is generated from United States. Breaking Down CCC Intelligent Solutions's Financial Performance Positive Revenue Trend: Examining CCC Intelligent Solutions's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 7.84% as of 30 September, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector. Profitability Metrics: Gross Margin: The company maintains a high gross margin of 76.91% , indicating strong cost management and profitability compared to its peers. Earnings per Share (EPS): With an EPS below industry norms, CCC Intelligent Solutions exhibits below-average bottom-line performance with a current EPS of 0.004566 . Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.43 . Insights into Valuation Metrics: Price to Earnings (P/E) Ratio: The P/E ratio of 169.71 is lower than the industry average, implying a discounted valuation for CCC Intelligent Solutions's stock. Price to Sales (P/S) Ratio: The current P/S ratio of 8.09 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance. EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): CCC Intelligent Solutions's EV/EBITDA ratio, lower than industry averages at 30.29 , indicates attractively priced shares. Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale. Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm. Navigating the Impact of Insider Transactions on Investments Insider transactions contribute to decision-making but should be supplemented by a comprehensive investment analysis. Exploring the legal landscape, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction. Highlighted by a company insider's new purchase, there's a positive anticipation for the stock to rise. But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors. Unlocking the Meaning of Transaction Codes In the domain of transactions, investors frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company. Check Out The Full List Of CCC Intelligent Solutions's Insider Trades. Insider Buying Alert: Profit from C-Suite Moves Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. Click here for access . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.The Philosophical Emperor

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