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: Sanofi May Add CVRs to Medivation Bid The Rumor:
France's Sanofi SNY is said to be adding contingent value rights or CVR's to its offer to acquire Medivation Inc. MDVN, according to sources as reported by Bloomberg 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. Hearing BB&T Says William-Sonoma May Acquire Restoration Hardware for $50 /Share The Note:
Shares of Restoration Hardware RH surged higher Wednesday on a note from BB&T that the company could be an acquisition target for William-Sonoma WSM. 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 to Acquire 3scale The Deal:
Red Hat, Inc. RHT 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%.