Nordstrom is to be acquired by the Nordstrom family and Mexican retailer El Puerto de Liverpool in an all-cash transaction valued at approximately $6.25 billion on an enterprise basis.

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.

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.