Sanofi Inc. is a multi-national pharmaceutical firm based in France. While Sanofi is a market leader in diabetes and cardiovascular drugs, performance in these segments is lagging, and Sanofi is looking to accelerate growth in its oncology (cancer-treatment) division. In May 2016, Sanofi made an offer to acquire Medivation, a California-based company that has developed innovative cancer therapy drugs. The $9.3 billion offer was rejected by the board of directors at Medivation. In response, Sanof fled documents with the SEC seeking to remove and replace Medivation's entire board of directors. This is an example of a/an:hostile takeoverjoint venturenoncompete agreementDinstitutional investor