onsemi cuts Synaptics offer to $123 per share in revised merger agreement
ON•onsemi agreed to buy Synaptics for $123 per share in cash, valuing the deal at about $5.7 billion, down from roughly $7 billion under the prior agreement. The transaction is expected to be immediately accretive to onsemi’s non-GAAP EPS at closing, with closing targeted by mid-2027.
1. Revised deal terms
onsemi agreed to revised terms to buy Synaptics for $123 per share in cash, valuing the deal at about $5.7 billion, after reviewing an unsolicited competing proposal. The revised price is down from the prior agreement’s roughly $7 billion value; onsemi expects the transaction to be immediately accretive to non-GAAP EPS at closing. Financing is planned from cash on hand, backed by fully committed debt financing from Morgan Stanley, and closing is targeted by mid-2027, pending Synaptics shareholder approval and remaining regulatory clearances.
