Why is a company offering to buy back their stock higher than value?

[RicoTubbs]

Just to add some context to this discussion, OP is almost certainly talking about Home Depot. The buyback was originally scheduled to be ~$22B, funded by debt and proceeds from the sale of their supply division. Now it seems they're struggling to complete the sale of the supply division, the debt market has kind of seized up, and their stock price has tanked. They have already lowered their tender price once.