nabi share buy back, page-11

of note.
they announced stake just before buyback announced

Activist Filings
Nabi Biopharmaceuticals (NABI)

Hedge fund Mangrove Partners disclosed a new stake in Nabi and came out against a recently announced merger.

In its filing, Mangrove said that it has reviewed the proxy statement in connection with a proposed merger with Australian biotech Biota Holdings (ticker: BTA.Australia), announced April 23, and come to the conclusion that the proposed merger "is not in the best interest of shareholders and deeply undervalues" the company. Mangrove said it intends to engage in discussions with management about the merger and will vote against the transaction.

Mangrove said that it owns 2,961,974 shares of Nabi (6.9% of the total voting shares) following its purchase of 540,652 shares from May 16 through June 29 at prices ranging from $1.57 to $1.61.

link

http://online.barrons.com/article/SB50001424053111904317504577496651500563844.html?mod=BOL_twm_dept