Nordstrom rejects founding family group's take-private offer

March 5 (Reuters) - Nordstrom Inc said on Monday it had rejected an offer from the founding family group to take the upscale retailer private for $50 per share.

Nordstrom's special committee said that the proposed price was inadequate.

The committee said it plans to terminate discussions unless the price offered is "substantially" improved. (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)