Synaptics Amends onsemi Merger to $123/Share All-Cash, Down from ~$7B Stock Deal
SYNA has more than doubled off its 52-week low of $58.28.
Summary
Synaptics and onsemi amended their merger agreement: $123 per share in cash (~$5.7B), down from ~$7B all-stock. The change followed an unsolicited competing bid. Synaptics filed a preliminary proxy for the amended deal; the special meeting date and record date are not yet set.
Updated with an SEC PREM14A filing · What changed
Updates
· SEC PREM14A — Synaptics filed a preliminary proxy for the $123/share all-cash onsemi merger; special meeting date and record date not yet set.
· Benzinga — Synaptics shareholders will receive $123 per share in cash, without interest.
- Deal Terms — Each Synaptics share converts into $123 in cash, without interest. The deal has no financing condition.
- Board Approval — Synaptics board worked with a special committee of independent directors and unanimously approved the agreement. The board, on committee's recommendation, determined the rival bid no longer qualified after onsemi revised terms. Synaptics signed an Amended and Restated Merger Agreement with onsemi on Thursday.
All 6 details
- Each Synaptics share converts into $123 in cash, without interest.
- Synaptics board worked with a special committee of independent directors.
- Synaptics board unanimously approved the agreement.
- The deal has no financing condition.
- Synaptics board, on committee's recommendation, determined rival bid no longer qualified after onsemi revised terms.
- Synaptics signed an Amended and Restated Merger Agreement with onsemi on Thursday.
Key Events · M&A and Partnerships · SYNA
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New · · SEC PREM14A
Preliminary Proxy Filed
Synaptics filed a preliminary proxy for the $123/share all-cash onsemi merger. The special meeting date and record date are not yet set.
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New · · Benzinga
Amended Agreement Signed
Synaptics signed an Amended and Restated Merger Agreement with onsemi on Thursday. The deal has no financing condition.
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New · · Benzinga
Market Reaction to Amendment
SYNA jumped 15.03% to $122.10 after hours; ON rose 7.13% after hours.
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Updated · · Benzinga
Merger Consideration Cut to $123/Share Cash
Amended agreement values Synaptics at approximately $5.7 billion, down from approximately $7 billion under the original June 25, 2026 all-stock deal. Each Synaptics share converts into $123 in cash, without interest.
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Updated · · Benzinga
Competing Bidder Triggered Revision
An unsolicited, non-binding proposal from a third party on September 2, 2026 was initially deemed a Superior Proposal by the Synaptics board before onsemi revised its terms. The Synaptics board, on the recommendation of a special committee of independent directors, determined the rival bid no longer qualified after onsemi revised its terms, and unanimously approved the amended agreement.
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Structure Switches to All-Cash
Each Synaptics share converts to $123 in cash, replacing the prior stock consideration and providing value certainty to Synaptics shareholders.
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Termination Fees Set
Company Termination Fee is $235 million; Regulatory Termination Fee is $320 million.
Analysis · SYNA · Manufacturing
Synaptics and onsemi have amended their June 25, 2026 merger agreement, cutting the deal value from approximately $7 billion to $5.7 billion and switching from all-stock to all-cash at $123 per share. The revision followed an unsolicited competing proposal from a third party on September 2, 2026, which the Synaptics board initially deemed superior before onsemi improved its terms. The lower price reflects a concession to onsemi shareholders, while the all-cash structure provides certainty to Synaptics holders. The deal remains subject to Synaptics shareholder approval and other closing conditions, with completion expected by mid-2027. Synaptics has filed a preliminary proxy for the amended merger, but the special meeting date and record date have not yet been set.
How filings like this one have moved
In the 30 days to Oct 10, 2026, 43.9% of the 312 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SYNA was trading at $122.53 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $58.28 to $149.11. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.