onsemi cuts Synaptics acquisition price to $5.7 billion

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.

onsemi (ON) and Synaptics (SYNA) revised their merger agreement. onsemi will now acquire Synaptics for $123 per share, totaling $5.7B, down from $7B. The deal is expected to be immediately accretive to onsemi's non-GAAP EPS. Both companies' boards approved the amended agreement, which requires Synaptics shareholder and regulatory approvals to close by mid-2027.

onsemi revised its acquisition offer for Synaptics to $123 per share in cash, valuing the deal at ~$5.7B, down from ~$7B. The company expects immediate non-GAAP EPS accretion and targets closing by mid-2027, pending approvals.

Jefferies believes Onsemi (NASDAQ:ON) is well positioned to benefit from rising data center power demand. The broker argues that concerns about margins are overstated and expects margins to rise with volume increases and cost reductions. Jefferies raised its 2026 and 2027 revenue estimates and 2027 EPS forecast, citing favorable pricing and new product wins.