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BOSTON Digitas has authorized a self-tender offer to repurchase more than 6 million shares, or roughly 10 percent of its common stock, at a price of $3.89 per share through end-of-trading on March 25.
The tender price is based on the average closing price for the past 20 trading days on the Nasdaq exchange ending Feb. 21. Digitas stock closed yesterday at $3.90. Digitas will finance the program with approximately $25 million of its own funds.
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