onsemi revises Synaptics deal to all-cash $5.7 billion offer at $123 a share
ON•onsemi agreed to revised terms to acquire Synaptics for $123 per share in cash, valuing the deal at about $5.7 billion. The revised agreement replaces a prior deal valued at about $7 billion.
1. Revised offer
The amendment followed a review of an unsolicited competing proposal. The revised pricing is expected to be immediately accretive to onsemi’s non-GAAP EPS compared with the prior structure.
2. Financing and timing
The deal will be financed with cash on hand and committed debt financing arranged by Morgan Stanley, with no financing closing condition. Closing is targeted by mid-2027, pending a Synaptics shareholder vote and remaining regulatory clearances.
