Synaptics' CFO Disposed of Stock as an 88%-12% OnSemi Ownership Split Takes Shape. Here's What to Know

onsemi (ON) revised its deal to acquire Synaptics (SYNA) from an all-stock to a $5.7B cash offer, citing a competing proposal. ON will pay $123 per share, up from the implied $108 value of the previous deal. Both companies' shares rose in after-hours trading.

Synaptics (SYNA) amended its merger agreement with onsemi, reaffirming plans to become a subsidiary. Under the revised terms, Synaptics stockholders will receive $123 per share in cash. The deal is subject to shareholder and regulatory approvals, with Hart-Scott-Rodino approval already obtained. The amendment follows negotiations after an unsolicited competing proposal.

Onsemi revised its acquisition deal for Synaptics, offering $123 per share in cash after a competing bid. The company secured a $2.45 billion term loan from Morgan Stanley to fund the transaction, which is not contingent on the financing.

Nike (NKE) shares dropped 3% after reporting mixed Q1 results, with revenue missing estimates. FICO and TransUnion (TRU) fell 7% and 6% respectively due to potential regulatory changes affecting mortgage lending. Synaptics (SYNA) rose 15% and ON Semiconductor (ON) gained 6% after revising their merger agreement, with ON Semiconductor to acquire Synaptics for $123 per share.

Onsemi (ON) revised its agreement to acquire Synaptics (SYNA) for $123 per share in cash, replacing a previous all-stock deal. The change followed a competing offer. SYNA shares rose 13% in after-hours trading.

Onsemi and Synaptics revised their merger agreement to an all-cash deal at $123 per share, valuing the transaction at $5.7B. Shares of ON and SYNA rose 5.7% and 12.4% in after-hours trading, respectively. The deal is expected to be accretive to onsemi's earnings and is set to close by mid-2027, pending approvals.