Posting these links here to make it easier to reference:

https://www.pilotonline.com/2013/01/17/w...-merger-2/
This, from 2013, is the last news article I can find that references a merger or acquisition.
"The committee recommended that the schools work together on a “health care delivery science” program that would not only study the legal and financial ramifications of the schools jointly delivering health care to the region, but also pull in the expertise of EVMS partners, specifically Sentara Healthcare."

It goes on to say that a major concern was that EVMS does not own a hospital, which seemed to indicate there were concerns about Sentara's involvement. That lines up with the Bacon's Rebellion story, that was focused on the Sentara part.

This is the EVMS page with links to the emails they sent out to their campus about the process in late 2012.
https://www.evms.edu/evms_news/wm/

Based on all of this, it doesn't look like there was any discussion of W&M acquiring EVMS beyond 2012. Everything after that was discussions about how to develop partnerships between EVMS and W&M, and those partnerships came into existence in 2013 and continue today.