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 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.