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Rhythm shares close higher on report of AstraZeneca $10 bln takeover offer

By Reuters News

** Shares of Rhythm Pharmaceuticals RYTM.O closed up 28% at $110.68 following a media report of a takeover bid from AstraZeneca AZN.L

** British drugmaker AstraZeneca recently made a roughly $10 billion takeover offer for Rhythm Pharmaceuticals, the Wall Street Journal reported, citing people familiar with the matter

** Shares of RYTM trade at $108.44 in extending trading

** AstraZeneca offered to pay $124 per share for the US-based biotech last month, according to the report

** AstraZeneca declined to comment, while Rhythm did not respond to a request for comment

** YTD, RYTM shares down 1.8%, while AZN shares up 1.92%

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