onsemi revises Synaptics acquisition to all‑cash $123 per share, $5.7 billion
onsemi (ON) and Synaptics (SYNA) have amended their merger agreement, switching to an all‑cash offer of $123 per share. The revised transaction values Synaptics at approximately $5.7 billion, down from the prior roughly $7 billion valuation. The boards of both companies approved the amendment, which remains subject to shareholder and regulatory approvals and is expected to close by mid‑2027. onsemi secured a $2.45 billion term loan from Morgan Stanley to fund the deal, and the U.S. FTC has already cleared the transaction.
Why it matters
onsemi says the all‑cash structure will be immediately accretive to its non‑GAAP earnings per share, improving its near‑term profitability outlook. The secured term loan removes financing uncertainty, allowing the company to proceed without a financing condition.
Key facts
- 1The revised price is $123 per share in cash. tradingview.com
- 2The aggregate transaction value is approximately $5.7 billion. tradingview.com
- 3The prior agreement valued the deal at approximately $7 billion. tradingview.com
- 4The amended agreement is expected to close by mid‑2027, subject to approvals. globenewswire.com
- 5onsemi secured a $2.45 billion term loan from Morgan Stanley to fund the acquisition. tradingview.com
- 6The U.S. Federal Trade Commission has approved the transaction. globenewswire.com
Open questions
- The identity of the competing unsolicited bidder is not disclosed.
- Projected revenue synergies and additional value beyond the $200 million annual run‑rate synergies are described as expected after 18 months, but no firm amounts are given.
Summary written by AlphAI from 20 of 22 sources. Not investment advice. Figures are as stated by the linked sources.