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 (NYSE: SNY) is said to be adding contingent
value rights or CVR's to its offer to acquire Medivation Inc. (NASDAQ: 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 (NASDAQ: RH) surged higher
Wednesday on a note from BB&T that the company could be an acquisition target for William-Sonoma (NYSE: 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. (NYSE: 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%.
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