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COEUR D'ALENE, Idaho - Radiology services provider NightHawk Radiology Holdings Inc. said Wednesday it started a modified Dutch auction tender offer to buy up to $50 million of its common stock.
| NHWK | 4.57 |  -0.11 |
The shares will be purchased in a price range of $7.45 to $8.05 per share. The proposed stock purchase represents about 20.2 percent of NightHawk's outstanding shares as of May 1.
A modified Dutch auction lets stockholders indicate how many shares and at which price they wish to sell their shares, within a specified range.
The company said none of its directors or executive officers plan to tender any shares in the offer.
The offer is set to expire on June 13, unless extended.
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