SYNA shares should trade near the deal spread based on the fixed exchange ratio of 1.350 ON shares per SYNA share. Monitor regulatory filings (HSR, CFIUS) and the S-4 proxy statement for closing conditions. The long-dated close (mid-2027) introduces execution and regulatory risk, but the premium is locked. Traders should watch for any competing bids or regulatory pushback.
Price Chart
Executive Summary
ON Semiconductor (onsemi) has agreed to acquire Synaptics in an all-stock transaction valued at approximately $7 billion. Synaptics shareholders will receive 1.350 shares of onsemi common stock per share, representing a 19% premium based on the 10-day VWAP. The deal is expected to close in mid-2027, subject to Synaptics stockholder approval, regulatory approvals, and other customary conditions.
Key Financial Metrics
Key Facts
- onsemi to acquire Synaptics in an all-stock deal valued at approximately $7 billion.
- Exchange ratio: 1.350 shares of onsemi common stock for each Synaptics share.
- 19% premium based on 10-day volume-weighted average closing prices.
- Expected close in mid-2027, subject to Synaptics stockholder and regulatory approvals.
- Transaction is expected to be accretive to non-GAAP EPS within 18 months of closing.
- Synaptics brings Edge AI compute, human-machine interface, and wireless connectivity capabilities.
- Combined company targets $243 billion addressable market by 2030, expanding by $30 billion.
- onsemi expects to add Synaptics' 1,000+ engineers and Astra platform.
Financial Impact
All-stock deal valued at approximately $7 billion enterprise value; 19% premium to Synaptics' 10-day VWAP.
Risk Factors
- Regulatory approvals may be delayed or denied (antitrust, CFIUS).
- Synaptics stockholders may vote against the deal.
- Integration challenges could erode expected synergies.
- onsemi's stock price volatility affects the deal's effective value for SYNA shareholders.
- Long closing timeline (mid-2027) introduces market and operational risks.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (SYNA) — Batch item 1 | 0001140361-26-026464 |
| Document: 0001140361-26-026464-index-headers.html | 0001140361-26-026458 |
| Document: 0001140361-26-026464-index.html | 0001140361-26-026464 |
| Document: 0001140361-26-026464.txt | 0001140361-26-026464 |
| 425 Filing (SYNA) — Batch item 5 | 0001140361-26-026458 |
| Document: 0001140361-26-026458-index-headers.html | 0001140361-26-026464 |
| Document: 0001140361-26-026458-index.html | 0001140361-26-026464 |
| Document: 0001140361-26-026458.txt | 0001140361-26-026464 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | DEFA14A | $89.24 $98.10 | ▲ +9.93% | ▲ +7.36% | $121.64 (+36.31%) |
Aug 27, 2026 5w ago | 425 | $97.59 $97.68 | ▲ +0.09% | ▼ −0.18% | $121.64 (+24.65%) |
Aug 26, 2026 5w ago | Insider Cluster | $95.70 $95.99 | ▲ +0.30% | ▲ +0.42% | $121.64 (+27.11%) |
Aug 21, 2026 6w ago | 425 | $97.66 $95.08 | ▼ −2.64% | ▼ −3.12% | $121.64 (+24.56%) |
Aug 21, 2026 6w ago | 8-K | $97.66 $95.08 | ▼ −2.64% | ▼ −3.12% | $121.64 (+24.56%) |
Aug 19, 2026 6w ago | Insider Cluster | $100.98 $95.70 | ▼ −5.23% | ▼ −4.84% | $121.64 (+20.46%) |
Jul 28, 2026 9w ago | Insider Cluster | $110.87 $105.72 | ▼ −4.65% | ▼ −6.91% | $121.64 (+9.72%) |
Jul 21, 2026 10w ago | Insider Cluster | $119.32 $116.42 | ▼ −2.43% | ▼ −1.20% | $121.64 (+1.95%) |
Jul 15, 2026 11w ago | Press Release | $115.55 $117.60 | ▼ −1.77% | ▼ −3.44% | $121.64 (−5.27%) |
Jun 26, 2026 14w ago | 425 | $121.00 $119.52 | ▼ −1.22% | ▼ −3.39% | $121.64 (+0.53%) |
US Market Status
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