onsemi Buys Synaptics for $123 a Share in a 2026 Cash Deal
By Tobi Opeyemi Amure
AI summary of the source article
onsemi restructured its planned acquisition of Synaptics into an all-cash transaction valued at $123 per share, amounting to approximately $5.7 billion. This replaces an earlier June agreement under which Synaptics shareholders would have received 1.350 onsemi shares per share in a deal previously valued at about $7 billion. The shift occurred after Synaptics received an unsolicited, non-binding acquisition proposal from an unnamed third party. onsemi expects the revised transaction to be immediately accretive to non-GAAP earnings per share upon closing, down from the previously estimated 18-month timeframe. Both boards unanimously approved the revised cash agreement.
Why it matters
The change gives Synaptics shareholders certain cash value at an immediate premium while lowering the total purchase cost for onsemi and accelerating expected non-GAAP earnings accretion.
Key facts
- onsemi will pay $123 per share in cash for Synaptics, totaling an aggregate of about $5.7 billion.
- The all-cash agreement replaces an earlier fixed exchange ratio of 1.350 onsemi shares per Synaptics share.
- The revision followed an unsolicited, non-binding takeover approach from an unnamed third party.