On Semiconductor switches Synaptics acquisition to $5.7 billion all‑cash deal at $123 per share
On Semiconductor announced that it will acquire Synaptics for $123 per share in cash, valuing the target at about $5.7 billion. The offer replaces an earlier all‑stock transaction that was valued at roughly $7 billion. The board of Synaptics unanimously approved the amendment after an unsolicited competing proposal surfaced. The deal is slated to close in mid‑2027, subject to shareholder and regulatory approvals.
Why it matters
On Semiconductor says the cash transaction will be immediately accretive to its non‑GAAP earnings per share, removing dilution risk for its shareholders. The all‑cash structure gives Synaptics shareholders a fixed premium and reduces uncertainty about the deal’s completion. Investors should expect the share prices of both companies to reflect the announced terms until the transaction closes.
Key facts
- 1The revised offer is an all‑cash purchase of $123 per Synaptics share, valuing the transaction at $5.7 billion. tradingview.com
- 2The previous agreement was an all‑stock deal valued at about $7 billion. tradingview.com
- 3On Semiconductor expects the deal to be immediately accretive to non‑GAAP EPS upon closing. 247wallst.com
- 4The amendment was approved unanimously by the Synaptics board after an unsolicited competing proposal was received. ibtimes.com.au
- 5The transaction is expected to close in mid‑2027, subject to shareholder and regulatory approvals. ibtimes.com.au
- 6On Semiconductor plans to fund the acquisition with cash on hand and debt financing. 247wallst.com
Open questions
- Reported percentage increase for SYNA varies (14.48% in material 4, 15% in material 3, 14.08% in material 8).
- Reported percentage increase for ON varies (6.01% in material 9, 6.06% in material 6, 8% in material 2).
Summary written by AlphAI from 9 of 9 sources. Not investment advice. Figures are as stated by the linked sources.