The all-cash offer at $123/share provides value certainty for SYNA holders. The key catalyst is the shareholder vote, monitor the proxy filing and any competing bids. The deal is expected to close by mid-2027, so the spread between SYNA's current price and $123 will narrow as closing conditions are met.
Price Chart
Executive Summary
Synaptics and ON Semiconductor (onsemi) have amended their merger agreement, changing the consideration from stock to $123.00 per share in cash (approximately $5.7 billion aggregate value), following an unsolicited competing proposal from a third party. The revised deal is expected to close by mid-2027, subject to shareholder and regulatory approvals, and is immediately accretive to onsemi's non-GAAP EPS.
Key Financial Metrics
Key Facts
- Synaptics shareholders will receive $123.00 per share in cash, up from the prior stock-for-stock deal structure.
- Aggregate transaction value is approximately $5.7 billion.
- The amended agreement follows an unsolicited competing proposal received on September 2, 2026.
- The transaction is expected to close by mid-2027.
- HSR Act waiting period has been granted early termination; other regulatory approvals are pending.
- The deal is not subject to a financing condition; onsemi has fully committed debt financing from Morgan Stanley.
- The transaction is expected to be immediately accretive to onsemi's non-GAAP EPS.
- Synaptics Board unanimously approved the amended agreement.
- Company Termination Fee is $235 million; Regulatory Termination Fee is $320 million.
Financial Impact
Synaptics shareholders receive $123.00 per share in cash, representing a significant premium. Aggregate value approximately $5.7 billion.
Risk Factors
- Shareholder vote may not be obtained.
- Regulatory approvals in other jurisdictions may be delayed or denied.
- A competing superior proposal could emerge and derail the deal.
- Litigation related to the transaction could delay or prevent closing.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001140361-26-038302 |
| Document: ef20083029_defa14a.htm | 0001140361-26-038302 |
| Document: ef20083029_ex99-2.htm | 0001140361-26-038302 |
| Document: ef20083029_ex99-1.htm | 0001140361-26-038302 |
| Document: 0001140361-26-038302-index-headers.html | 0001140361-26-038302 |
| Document: 0001140361-26-038302-index.html | 0001140361-26-038302 |
| Document: 0001140361-26-038302.txt | 0001140361-26-038302 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 9d ago | DEFA14A | $117.05 $117.35 | ▲ +0.26% | ▲ +0.40% | $117.83 (+0.67%) |
Oct 19, 2026 9d ago | DEFM14A | $117.05 $117.35 | ▲ +0.26% | ▲ +0.40% | $117.83 (+0.67%) |
Oct 15, 2026 12d ago | 8-K | $117.18 $117.26 | ▲ +0.07% | ▼ −0.02% | $117.83 (+0.56%) |
Oct 8, 2026 19d ago | PREM14A | $119.82 $117.18 | ▼ −2.20% | ▼ −0.24% | $117.83 (−1.66%) |
Oct 2, 2026 26d ago | DEFA14A | $121.10 $119.82 | ▼ −1.06% | ▼ −2.22% | $117.83 (−2.70%) |
Oct 1, 2026 26d ago | DEFA14A | $121.10 $119.82 | ▼ −1.06% | ▼ −2.22% | $117.83 (−2.70%) |
Oct 1, 2026 26d ago | 8-K | $121.10 $119.82 | ▼ −1.06% | ▼ −2.22% | $117.83 (−2.70%) |
Sep 28, 2026 29d ago | Insider Cluster | $100.36 $119.73 | ▲ +19.30% | ▲ +18.10% | $117.83 (+17.41%) |
Sep 21, 2026 5w ago | Insider Cluster | $97.64 $100.79 | ▲ +3.23% | ▲ +4.41% | $117.83 (+20.68%) |
Sep 15, 2026 6w ago | DEFA14A | $89.24 $98.10 | ▲ +9.93% | ▲ +7.36% | $117.83 (+32.04%) |
US Market Status
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