Biotech Values

[biophud]

Significance of the BIIB Tender offer?--Is there a reason that BIIB is using a tender offer as opposed to a stock buyback on the open market? When boards approve buybacks on the open market frequently only a small% of the approved amount is ever bought back by the company (please correct me if I am wrong). Is a tender offer then a more serious stock buyback program? Another question--> what is motivating the buyback? a stock purchase of another company? IMO the amout being offered is not compelling for an owner of BIIB who has a long term horizon.

Comments appreciated,

biophud