Synaptics, Onsemi rise on revised merger deal
SYNA•SYNA•SYNA•SYNA•Synaptics shares rose about 14% premarket and Onsemi shares gained 6% after the companies revised their merger agreement, reducing the all-cash deal value to about $5.7 billion from roughly $7 billion. The revised offer is $123 per Synaptics share, with closing expected by mid-2027, subject to approvals.
Onsemi and Synaptics revised their merger agreement, lowering the value of the all-cash transaction to about $5.7 billion from roughly $7 billion. The revised offer values Synaptics at $123 per share in cash, following an unsolicited third-party bid.
TD Cowen analysts said they still question the strategic rationale, citing added complexity and concern that connected-compute assets could dilute Onsemi’s core power semiconductor story. The deal is expected to close by mid-2027, subject to shareholder and regulatory approvals, and is expected to deliver about 18% pro forma non-GAAP EPS accretion on close.
