The lower price and immediate EPS accretion signal improved deal economics for onsemi shareholders. Watch for Synaptics shareholder vote and remaining regulatory approvals; any delay or rejection could reintroduce uncertainty.
Price Chart
Executive Summary
onsemi and Synaptics amended their merger agreement, reducing the purchase price from ~$7B to ~$5.7B ($123/share cash, down from $150/share) after a competing bid. The lower price makes the deal immediately accretive to onsemi's non-GAAP EPS and includes incremental synergy opportunities beyond the previously announced $200M annual run-rate. The transaction is expected to close by mid-2027.
Key Financial Metrics
Key Facts
- Revised purchase price: $123 per share in cash, aggregate value ~$5.7B (down from ~$7B)
- Transaction expected to be immediately accretive to onsemi's non-GAAP EPS upon closing
- Incremental revenue synergies and insourcing benefits expected after initial 18 months post-close
- Fully committed debt financing from Morgan Stanley; no financing closing condition
- FTC has approved the transaction; other regulatory reviews ongoing
- Expected to close by mid-2027, subject to Synaptics shareholder approval and other conditions
Financial Impact
Reduction in total consideration of ~$1.3B (from ~$7B to ~$5.7B); deal now immediately accretive to non-GAAP EPS
Risk Factors
- Synaptics shareholder approval still required; competing bid could resurface
- Remaining regulatory approvals (outside FTC) may impose conditions or delay close
- Integration risks and realization of incremental synergies uncertain
- Debt financing adds leverage to onsemi's balance sheet
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3373426 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $72.25 | awaiting T+5 | — | $78.67 (+8.89%) |
Oct 15, 2026 12d ago | Press Release | $72.02 | awaiting T+5 | — | $78.67 (+9.23%) |
Oct 7, 2026 20d ago | SC 13G/A | $82.51 $73.36 | ▼ −11.09% | ▼ −10.11% | $78.67 (−4.65%) |
Oct 1, 2026 26d ago | DEFA14A | $84.89 $77.53 | ▼ −8.67% | ▼ −9.83% | $78.67 (−7.33%) |
Oct 1, 2026 26d ago | 8-K | $84.89 $77.53 | ▼ −8.67% | ▼ −9.83% | $78.67 (−7.33%) |
Oct 1, 2026 26d ago | Press Release | $84.89 $77.53 | ▼ −8.67% | ▼ −9.83% | $78.67 (−7.33%) |
Aug 21, 2026 9w ago | S-4 | $74.21 $72.61 | ▼ −2.16% | ▼ −2.63% | $78.67 (+6.01%) |
Aug 13, 2026 10w ago | 425 | $81.56 $74.71 | ▼ −8.40% | ▼ −6.43% | $78.67 (−3.54%) |
Aug 13, 2026 10w ago | 8-K | $81.56 $74.71 | ▼ −8.40% | ▼ −6.43% | $78.67 (−3.54%) |
Aug 3, 2026 12w ago | 8-K | $80.78 $81.11 | ▲ +0.41% | ▲ +0.51% | $78.67 (−2.61%) |
US Market Status
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