Why are they doing this. To help get the deal over the line maybe.
Nabi Biopharmaceuticals (NABI) intends to repurchase up to $23 million of stock through a modified Dutch auction self- tender offer.
A modified "Dutch auction" tender offer allows shareholders to indicate how many shares and at what price they wish to tender their stock.
The developer of nicotine addiction treatments said it will pay between $1.58 and $1.72 a share in the self-tender offer scheduled to expire at midnight July 30.
http://www.nasdaq.com/article/nabi-biopharmaceuticals-to-buy-back-23-million-of-stock-in-self-tender-offer-20120702-00308
nabi share buy back
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