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Nathan's Famous share prices rise in buyback
Photo credit: Newsday, 2010 / Erica Marcus
Nathan's Famous Inc.'s stock price rose sharply after an offer to buy back up to a half-million of its own shares and to pay a premium of as much as $3 a share.
The buyback takes the form of a Dutch auction, in which shareholders can tender their shares to Nathan's at prices ranging from $20 to $22 per share. The company will buy as much as 10 percent of its nearly 5 million shares outstanding.
The...
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