I Agree with what you said. However in Aveo's case (formerly FKP), the share buyback never boosted share price, so they actually reduced the number of outstanding share and hence the whole market cap is reduced. The bidders, will use this to negotiate the offer down based on the MC.
Never said share buyback (at low price) is bad idea, but at this particular time when the whole company is for sale, buyback simply make no merit for Aveo.
AOG Price at posting:
$1.86 Sentiment: Buy Disclosure: Held
