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HD Share buyback?

Since I am relatively new to investing in plain stocks (my investing before this has been exclusively in mutual funds via my 401k retirement account), I have never encountered anything like this before:

Today I received an email offering a purchase of my shares in HD. Granted, I don't own many shares of it so I have no intention of taking up this offer, but I still find it quite interesting that I've never really heard of this before.Here is a partial copy of the email I received.

<snip>


Below is information regarding a tender offer for your holdings in "HD".  This offer expires on 8/16/2007. THE HOME DEPOT, INC., A DELAWARE CORPORATION (THE "COMPANY," OR  "HOME DEPOT"), IS OFFERING TO PURCHASE AT A PRICE NOT GREATER THAN $44.00 PER SHARE NOR LESS THAN $39.00 PER SHARE, NET TO THE SELLER IN CASH, WITHOUT INTEREST (IN INCREMENTS  OF $0.25).
</snip>

The rest of the email is information explaining how to take up this offer if I should choose to sell my shares. I was familiar with the concept of share buybacks. But I wasn't familiar with the actual process of how it worked.

Wikipedia has a great article explaining dutch auction share buybacks. Now I'm curious to see how the stock price changes over the longer term with this buyback going on.
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