Onsemi agrees to buy Synaptics for $123/share in cash in revised deal
Onsemi and Synaptics Incorporated have revised their merger agreement from an all-stock deal to an all-cash transaction, with Onsemi acquiring Synaptics for $123 per share. The revised deal is valued at approximately $5.7 billion, down from the original $7 billion estimate under the all-stock agreement. Shares of ON rose over 5.7% in after-hours trading, while SYNA gained 12.4%.
The transaction is projected to boost Onsemi's non-GAAP earnings per share. The modified agreement eliminates the need for a closing condition related to Onsemi's financing, with the transaction expected to close by mid-2027.
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