Onsemi and Synaptics announce revised merger agreement
ON•Onsemi will buy Synaptics for $123 per share in cash, valuing the deal at $5.70 billion. The deal is expected to be immediately accretive to Onsemi’s non-GAAP EPS, with more than $200 million in annual run-rate synergies identified.
1. Revised deal terms
Onsemi will acquire Synaptics for $123 per share in cash, for an aggregate value of $5.70 billion. The deal will be financed with cash on hand and committed debt financing from Morgan Stanley. Onsemi said the deal is expected to be immediately accretive to its non-GAAP EPS, and that incremental opportunities have been identified beyond $200 million in annual run-rate synergies.
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