Buffett Quashes CSX Merger Hopes as Shares Plunge 5.12% to 24th in $2.14 Billion Volume

On August 25, 2025, CSX (NASDAQ: CSX) closed with a 5.12% decline, trading at a volume of $2.14 billion, representing a 24.4% drop from the previous day. The stock ranked 24th in trading volume among equities listed on US exchanges. The selloff followed a definitive statement from Berkshire Hathaway’s Warren Buffett dismissing merger speculation involving its BNSF Railway unit and CSX. Buffett’s remarks to CNBC on Monday confirmed that Berkshire would not pursue a bid for CSX or any other railroad operator, despite weeks of investor speculation fueled by recent industry consolidation moves.

Buffett and Berkshire’s future CEO Greg Abel had privately met with CSX’s CEO Joseph Hinrichs in Omaha earlier that month, reiterating their stance against a merger while emphasizing potential for enhanced operational cooperation. This followed a surprise $85 billion merger announcement by Union Pacific and Norfolk Southern earlier in July, which intensified market expectations of a BNSF-CSX deal. However, CSX and BNSF recently launched new coast-to-coast freight services, signaling strategic alignment without structural integration. The outcome has raised concerns among shareholders, with activist investor Ancora Holdings urging the CSX board to explore alternative partnerships to avoid falling behind in the evolving rail sector.

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