onsemi adjusts acquisition price for Synaptics to 5.7 billion USD

onsemi announced on October 1 that it has reached an agreement to revise the merger agreement with Synaptics originally announced on June 25 of this year.

The company will complete the transaction with approximately 5.7 billion USD in cash, rather than the previously announced 7 billion USD in stock, reflecting an 18.6% discount.

The closing price of onsemi on the day of the announcement was 118.74 USD, with the opening price the following day at 98.29 USD. Currently, onsemi's stock price is around 85 USD, representing declines of 28.4% and 13.5% compared to previous figures.

This revision was prompted by a competitive acquisition proposal from a third party, and onsemi expects the transaction to immediately enhance its Non-GAAP earnings per share and provide value certainty for Synaptics' shareholders.

The transaction is still expected to be completed by mid-2027, subject to approval from Synaptics' shareholders, necessary regulatory approvals, and other customary closing conditions. The acquisition has been approved by the Federal Trade Commission, while regulators in other jurisdictions are currently reviewing the deal. ITHome reported the story.