Nordstrom ends buyout talks with family

NEW YORK — Department store operator Nordstrom ended buyout talks with family members of the company’s founder, saying it couldn’t get the group to raise its price. Nordstrom had rejected an offer of $50 a share earlier this month from the family group — which includes highlevel company executives — and called the price “inadequate.” At the time, the shares were trading above that level. The family members include co-presidents Blake, Peter and Erik Nordstrom, who are descendants of John W. Nordstrom. Together, they have a stake of about 30 per cent in the company, according to FactSet.