Cirrus Logic’s rival bid forces Onsemi to raise cash offer for Synaptics
Cirrus Logic submitted a cash‑and‑stock proposal for Synaptics in September, prompting On Semiconductor to convert its original all‑stock deal into an all‑cash offer of $123 per share. The revised Onsemi bid values Synaptics at roughly $5.7 billion. Synaptics’ board reviewed the Cirrus proposal but ultimately approved the higher‑priced Onsemi offer.
Why it matters
The higher cash price improves the return for Synaptics shareholders and increases the likelihood that the Onsemi transaction will close, which analysts expect by mid‑2027. The competitive bid also highlights strategic pressure in the semiconductor sector as firms seek diversification.
Key facts
- 1Cirrus Logic made a cash‑and‑stock bid for Synaptics in September. startupfortune.com
- 2On Semiconductor revised its offer to an all‑cash price of $123 per share. briefs.co
- 3The $123‑per‑share cash offer values Synaptics at about $5.7 billion. thenextweb.com
- 4Synaptics’ board evaluated the Cirrus proposal but chose the Onsemi offer. briefs.co
- 5Cirrus Logic shares fell roughly 6% after the news. briefs.co
- 6On Semiconductor shares slipped about 2%. briefs.co
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.