New On The Block
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Warren Buffett might be preparing to punch a one-way ticket to transcontinental rail dominance. With Union Pacific Corp (NYSE:UNP) confirming it’s in "advanced discussions" to merge with Norfolk Southern Corp (NYSE:NSC), all eyes have turned to Berkshire Hathaway Inc (NYSE:BRK), which owns Burlington Northern Santa Fe, to see if the Oracle of Omaha will counter by scooping up CSX Corp (NASDAQ:CSX).
Such a deal, according to Barron’s, would create a second coast-to-coast railroad, reshaping the freight landscape in the U.S.
CSX CEO Joseph Hinrichs didn't exactly pour cold water on the idea during the company’s earnings call Wednesday, saying CSX is "open to anything" that delivers shareholder value.
- Jeff Bezos may be eyeing CNBC as his next big media acquisition, according to a report from the New York Post. As Comcast prepares to spin off CNBC and other networks into a new company called Versant, the Amazon founder is rumored to be considering a bid that would align with his growing media portfolio, which already includes The Washington Post.
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Sony Group (NYSE:SONY) is exploring a sale of its cellular chipset unit, Sony Semiconductor Israel. The company, which acquired the unit (formerly Altair Semiconductor) in 2016 for $212 million, is working with investment bankers on an auction process.
The business, which generates about $80 million in recurring annual revenue, could fetch close to $300 million. Potential buyers include private equity firms and industry players.
The move comes as Sony also prepares to partially spin off and list its financial services arm, while considering other options for its broader semiconductor business, such as partnering with external companies or adopting a fab-light model.
See Also: Here’s How Much Warren Buffett Pockets Every Time You Buy A Bottle of Coke
Updates From The Block
- Recall that Spanish telecom giant Telefónica had agreed to sell its Uruguayan unit to Millicom International for $440 million. The divestiture was part of a broader strategy to reduce debt and limit currency risk by putting Latin American assets up for auction. Beyond ONE is reportedly in exclusive talks to buy Telefónica’s Mexican unit.
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Pinnacle Financial Partners Inc. (NASDAQ:PNFP) shares plunged the most in over five years after announcing an $8.6 billion all-stock merger with Synovus Financial Corp. (NYSE:SNV), forming the largest U.S. bank deal announced so far in 2025.
The two Southeast-based banks — each with market values near $8 billion — will merge under a new Pinnacle parent company, with Pinnacle shareholders owning 51.5% and Synovus shareholders 48.5%. Investors reacted negatively, with Pinnacle shares falling as much as 17% and Synovus down 13%, amid expectations that both could have attracted higher takeover premiums from larger regional banks.
Off The Block
- The FCC approved the $8 billion merger between Paramount Global Inc.'s (NASDAQ:PARA) (NASDAQ:PARAA) and Skydance. According to the New York Times, the combined entity agreed to install an official to monitor bias at CBS's news division. Sen. Elizabeth Warren (D-Mass.) is calling for an investigation into the approval of the "wink-wink" deal, suggesting it may be tied to a $16 million settlement President Trump received from Paramount. “Trump is open for business [but] bribery is still illegal,” Warren said.
- Chevron Corp (NYSE:CVX) has completed its $55 billion merger with Hess. According to a Texas Workforce Commission filing on Wednesday, following the deal's closure, Chevron cut 575 jobs in Houston and 70 in North Dakota.
Bankruptcy Block
- CareerBuilder and Monster, once leading online job boards, have been sold for $28 million in bankruptcy to Bold Holdings following a competitive auction. This sale marks a significant transition for these platforms, reflecting changes in the job market and digital recruitment strategies. Bold Holdings aims to revitalize the online job search industry, currently dominated by LinkedIn.
For the previous edition of Deal Dispatch, click here.
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