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Why is a company offering to buy back their stock higher than value?
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08-23-2007, 01:43 PM
NajdorfDefense
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Join Date: Feb 2003
Location: Manhattan
Posts: 8,227
Re: Why is a company offering to buy back their stock higher than valu
[ QUOTE ]
Shouldn't arbitrage drive the price up to the tender offer minus transaction costs?
[/ QUOTE ]
minus PV, minus risk adjustments
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