AstraZeneca (AZN) Stock Climbs 3% as $10 Billion Rhythm Bid Report Surfaces

TLDR AstraZeneca reportedly offered about $10 billion for Rhythm Pharmaceuticals The non-binding bid is worth up to $134 a share, including milestone payments Rhythm (RYTM) closed up 28% at $110.68 on Wednesday AstraZeneca (AZN) rose about 3% on the news Neither company has commented on the offer Rhythm Pharmaceuticals (RYTM) jumped 28% to close at $110.68 on Wednesday. The move came after reports that AstraZeneca (AZN) wants to buy the company. AstraZeneca PLC, AZN AstraZeneca stock also moved higher, gaining about 3% on the day. Its market value stands at roughly $292 billion. Reuters reported the offer is worth about $10 billion. Three people familiar with the matter shared the details.

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