Latest Corporate News

📅December 18, 2025 at 1:00 AM

Major corporate headlines: large M&A waves across retail, banking, biotech and media; landmark deals, activist defenses, and strategic acquisitions reshape 2025 year‑end landscape.

Warner Bros. Discovery urges shareholders to reject Paramount tender offer

Warner Bros. Discovery’s board unanimously recommended shareholders reject Paramount’s tender offer, signaling a contested deal and defense strategy from WBD’s leadership. The December 17 statement frames the offer as not in shareholders’ best interests and asks investors to decline participation.

C&S Wholesale acquires SpartanNash in roughly $1.77B grocery consolidation

C&S continued 2025’s grocery consolidation by agreeing to acquire SpartanNash in a transaction valued at about $1.77 billion, expanding C&S’s store footprint and distribution reach. Industry coverage lists this among the top grocery M&A moves that reshaped store ownership and regional networks in 2025.

Alimentation Couche‑Tard closes on GetGo deal; FTC ordered divestitures

Alimentation Couche‑Tard completed its $1.57 billion acquisition of GetGo Cafe + Market in 2025, including roughly 270 locations, and divested 35 gas stations to resolve antitrust concerns. The closing underscores continued consolidation in convenience retail and regulatory scrutiny over concentration.

Sunoco completes $9.1B acquisition of Parkland, boosting U.S. presence

Sunoco finalized its $9.1 billion purchase of Parkland Corp., adding Parkland’s ~650 retail outlets and boosting Sunoco’s U.S. store count to about 275. The deal significantly expanded Sunoco’s scale and cross‑border retail operations after closing on Oct. 31, 2025.

RaceTrac buys Potbelly as nontraditional acquirer enters restaurant M&A

RaceTrac acquired Potbelly for approximately $566 million in 2025, bringing more than 445 sandwich shops into a convenience operator’s portfolio and reflecting cross‑sector consolidation . Observers noted this as an unexpected strategic move by a c‑store operator into fast‑casual restaurants .

Pfizer–Novo Nordisk bidding war highlights blockbuster biopharma M&A activity

The 2025 bidding battle over obesity biotech Metsera — with Pfizer’s $4.9B offer widely reported — exemplified intense pharma dealmaking and strategic competition for GLP‑1 and amylin assets. Industry roundups listed this and several other large biopharma transactions among 2025’s most impactful M&A moves.

Johnson & Johnson among top biopharma deals of 2025 reshaping sector

Large biopharma transactions, including a $14.6 billion Johnson & Johnson deal and multiple strategic buys, reshaped pipelines and competitive positioning across vaccines, cell therapy and obesity therapeutics in 2025. Analysts cited these as among the seven most impactful M&A deals of the year.

UWMC announces strategic acquisition of TWO to expand mortgage platform

United Wholesale Mortgage Corp. (UWMC) announced it will acquire TWO in a strategic deal intended to increase scale, cash flow and public float, with UWMC estimating a material uplift to pro forma float and synergies. The December 17 press release emphasized revenue and cost synergies, stronger balance sheet and enhanced capital markets capabilities.

CVB Financial and Heritage Commerce agree to $811M all‑stock bank merger

CVB Financial Corp. and Heritage Commerce Corp. entered a definitive agreement to merge in an all‑stock transaction valued at approximately $811 million, creating a California business bank with about $22 billion in assets and 75+ offices. The announcement on December 17 highlighted the combined franchise’s regional scale and planned investor call details.

U.S. corporate defaults fall to lowest YTD level since February, S&P reports

S&P Global reported nine corporate defaults in November, bringing the 2025 year‑to‑date total to 108 and marking a decline to the lowest default pace since February in its Default, Transition and Recovery report. The report provides sector and recovery‑rate context for corporate credit conditions through November.

Major restaurant M&A deals reshape foodservice landscape in 2025

2025 saw heavy restaurant consolidation, including Dave’s Hot Chicken’s majority sale to Roark Capital and franchisee acquisitions of chains like Del Taco and Uncle Julio’s, signaling private equity and franchisee activity across the sector. Industry coverage noted an acceleration of transactions as chains sought capital and scale.

Kenvue‑Kimberly‑Clark and Eaton among top large November deals cited by FactSet

FactSet’s November M&A review listed Kimberly‑Clark’s agreement to acquire Kenvue for $40.2 billion and Eaton Plc’s large transactions as among the biggest announced deals that month, underlining sustained big‑ticket dealflow into year‑end. The review aggregates deal sizes and sector patterns for U.S. M&A in November 2025.

Toyota opens THE MOVEUM YOKOHAMA immersive experience to showcase mobility

Toyota Group announced the opening of THE MOVEUM YOKOHAMA, an immersive cultural and mobility exhibition running Dec. 20, 2025–Mar. 31, 2026, reflecting corporate branding and experiential marketing investments by automakers. The event includes exhibits like e‑Palette mobility demos and commissioned lighting installations.

Multiple bank mergers announced as regional consolidation continues

Beyond CVB/Heritage, other bank deals such as Community West Bancshares’ merger with United Security Bancshares were announced in mid‑December, continuing regional bank consolidation trends. Press releases emphasize scale, branch networks and local market footprints as merger rationales.

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