onsemi Slashes Synaptics Deal to $5.7B Cash, Boosts EPS Accretion
ON sits 87% above its 52-week low of $44.56.
Summary
onsemi renegotiated its Synaptics acquisition down to $5.7B in cash ($123/share) from the original ~$7B, after an unsolicited competing bid emerged. The all-cash deal is now expected to be immediately accretive to non-GAAP EPS, with additional revenue synergies and insourcing benefits beyond the prior $200M run-rate target. Morgan Stanley provided fully committed debt financing, and the FTC has already approved the transaction. This is a materially better deal for onsemi shareholders—lower price, higher accretion, and no financing risk—while Synaptics holders get certainty at a premium. The revised terms follow onsemi's Q2 beat and 2030 revenue plan, reinforcing management's disciplined M&A approach. Watch for Synaptics shareholder vote and other regulatory approvals; closing still expected by mid-2027.
Updates
· dpa-AFX — ON Semiconductor stock traded 5.54% higher overnight at $84.52 after closing up 4.18% at $80.08.
At the time of this announcement, ON was trading at $83.45 on NASDAQ in the Technology sector, with a market capitalization of approximately $31.2B. The 52-week trading range was $44.56 to $134.92. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.