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NEW YORK — 4basebio, formerly Expedeon, said on Tuesday that it will buy back 2 million of its treasury shares, representing approximately 4 percent of the company's current share capital.

4basebio said that it will price the treasury shares between €1.60 to €1.85 ($1.77 to $2.05) apiece, with the final purchase price to be determined after the expiry of the offer's acceptance period. The Heidelberg, Germany-based firm said that it is considering retaining the shares in treasury, potentially in order to help fund a future company or equity acquisition.

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