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A Nordstrom sign is seen at a shopping mall in Brea, Calif. (Jae C. Hong/AP)

Nordstrom said that it will halt its pursuit of a takeover, until at least after the holiday shopping season. The luxury retailer's market cap climbed to nearly $7.8 billion last month on news that it was in talks with private equity firm Leonard Green & Partners, but now has fallen back to $6.7 billion.

Why it matters: Because it's a reminder that not all leveraged loans are originated equally. Bloomberg reports that lenders were tying a 13% interest rate to prospective Nordstrom notes, thus souring the deal. Not only were banks spooked by luxury retail, but also recent events like the Toys "R" Us bankruptcy and a drop in the price of PE-backed PetSmart bonds.

Go deeper: Dollar stores are thriving in rural America

Bottom line: "Nordstrom announced that the going-private transaction is on hold and that they'll revisit it after the holidays. I doubt it. When M&A transactions slow down, they tend not to get revived in such a short time. Part of that is financial and part of that is psychological." — Richard Kestenbaum, Triangle Capital

Go deeper

Updated 18 mins ago - World

Reports: Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince earlier this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

Details: The missionaries had just left an orphanage and were traveling by bus to the airport when the gang abducted them in Port-au-Prince, Haitian security officials said, per the NYT.

Venezuela suspends talks with opposition after Maduro ally extradited to U.S.

Venezuelan President Nicolás Maduro in Caracas, Venezuela, in June. Photo: Gaby Oraa/Bloomberg via Getty Images

A key ally of Venezuela's President Nicolás Maduro was extradited from Cape Verde to the U.S. Saturday to face money laundering charges in Florida, Bloomberg first reported.

Why it matters: Venezuela's government called off negotiations with opposition officials that were scheduled for Sunday in Mexico in response to the extradition of Alex Saab, a Colombian businessman and financial fixer for Maduro. Security forces placed six U.S. oil executives under house arrest later Saturday, per AP.

Kenosha shooting lawsuit accuses police of coordinating with militia

Police and protesters confront in front of the Kenosha County Courthouse on Aug. 25, 2020. Photo: Tayfun Coskun/Anadolu Agency via Getty Images

The only survivor of a fatal shooting in Kenosha, Wisconsin, during protests last year has accused law enforcement in a lawsuit of conspiring with a "band of white nationalist vigilantes," the Washington Post reported Saturday.

Of note: Kyle Rittenhouse, 18, is due to stand trial on Nov. 1, accused of wounding Gaige Grosskreutz, who filed the suit, and killing two other people protesting the police shooting of Jacob Blake on Aug. 25, 2020. He's pleaded not guilty to charges including homicide and attempted homicide and maintains he fired in self-defense.