Consumer
Nordstrom Adopts 'Poison Pill' Measure to Keep Potential Buyers at Bay
- Mexico’s Liverpool disclosed 9.9% stake in upscale US retailer
- Nordstrom says shareholder plan isn’t tied to specific bids
A pedestrian carries a Nordstrom Inc. shopping bag in Chicago, Illinois.
Photographer: Christopher Dilts/BloombergThis article is for subscribers only.
Nordstrom Inc. adopted a poison pill Tuesday in an attempt to avoid any hostile takeover attempts following the flurry of such bids that buffeted Kohl’s Corp. for months.
The Nordstrom board approved the move, formally known as a shareholder rights plan, days after El Puerto de Liverpool SAB, a Mexican company that operates an upscale department store chain, disclosed a 9.9% stake in the US retailer. That makes Liverpool the second-largest shareholder after the Nordstrom family.