Nordstrom will be go private after it's acquired for $6.25 billion by Nordstrom family members and El Puerto de Liverpool, a Mexican department store chain.

Nordstrom on Monday announced it will become a private company after it agreed to a buyout deal valued at roughly $6.25 billion from Nordstrom’s founding family and Mexican department store El Puerto de Liverpool.

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group for $6.25 billion, the company said Monday.

Clothing retail giant Nordstrom announced on Monday that it is going private in a $6.25 billion deal involving the founding family members of the company and Mexican department store El Puerto de Liverpool.

Members of the Nordstrom family are taking its namesake department store chain private with Mexican retailer El Puerto de Liverpool, in a deal announced Monday that values the company at $6.25 billion.

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition.

After multiple failed attempts, the Nordstrom family—with the help of another investor—is finally taking their namesake department store private. What does this mean for other department stores? Nordstrom on Monday announced that it had agreed to be taken private by the family,

The move would allow the company more leeway in reviving a department store chain that has been attempting to reinvigorate sales for years.

The Nordstrom family teamed up with Mexican retailer Liverpool to clinch a $4 billion deal to take iconic department store chain Nordstrom private, six years after a similar attempt fell short. Nordstrom and rivals such as Macy's have become enticing takeover targets in recent years as sales have slowed and shares have slumped.