Benzinga's M&A Chatter for Wednesday June 22, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday June 22, 2016:

:

France's Sanofi

is said to be adding contingent value rights or CVR's to its offer to acquire Medivation Inc.

, according to sources as reported by

on Wednesday. The CVR's would require Sanofi to make future payments based on the achievement of certain milestones. Sanofi offered $52.50 per share to acquire Medivation in April. That offer was rejected by Medivation's Board. Spokespersons for Medivation and Sanofi declined comment on the report. Medivation closed Wednesday at $58.89, down $0.08.

:

Shares of Restoration Hardware

surged higher Wednesday on a note from BB&T that the company could be an acquisition target for William-Sonoma

. The note said a deal might be done at $50.00 per share. Spokespersons for Restoration Hardware and William-Sonoma did not respond to requests for comment. Restoration Hardware closed Wednesday at $27.62 up 7.18%.

:

Red Hat, Inc.

announced Wednesday, that it has signed a definitive agreement to acquire provider of API management technology, 3scale. Terms were not disclosed. The transaction is expected to close in June 2016. Red Hat closed at $28.10 on Wednesday, down 12%.