Japan's Astellas Pharma to buy Audentes Therapeutics for $2.7 bln

Corrects headline to say $2.7 billion, not $3 billion

Dec 2 (Reuters) Japan’s Astellas Pharma Inc 4503.T said on Monday it had agreed to buy Audentes Therapeutics Inc BOLD.O for $2.7 billion in cash as it looks to bolster its position in the gene therapy market.

Astellas offer of $60 per share represents a 110% premium to Audentes closing price on Monday.

The deal is expected to close in the first quarter of 2020, the companies said in a statement.

(Reporting by Dania Nadeem in Bengaluru; Editing by Anil D’Silva)

((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 0647;))

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