Nordstrom has adopted a “poison pill” to prevent investors from amassing 10% or more of its shares. This measure taken on the heels of Liverpool the Mexican retailer which recently grabbed 9.9% stake in the company! Now Liverpool is #2 in percentage ownership being surpassed strictly by 88 year-old Bruce Nordstrom.
Nordstrom said the shareholder rights plan, which will expire in September 2023 has not been put in place to disrupt any one takeover bid and is not intended to deter buyout offers? So why was this “poison pill” administered? Time will tell…..